Rogue Goldman Trader In $8B Scandal Pleads Guilty

Law360, New York (April 3, 2013, 2:48 PM EDT) -- A rogue Goldman Sachs & Co. trader who hid an $8 billion trading position and allegedly cost the financial services firm $118 million pled guilty Wednesday to fraud.

Matthew Marshall Taylor, 34, admitted that in late 2007 while working at Goldman’s New York office, he took out a position 10 times larger than he was allowed to under the firm’s risk guidelines. He created fictitious transactions to conceal what he was doing and later lied to Goldman personnel investigating his misconduct, he said.

Taylor, who in...
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