Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
NY judge: Goldman Sachs silent about rogue trader
Source: Associated Press
NY judge: Goldman Sachs silent about rogue trader
AP foreign, Friday December 6 2013
TOM HAYS
Associated Press= NEW YORK (AP) — A former Goldman Sachs trader was sentenced to nine months in prison for wire fraud Friday by a Manhattan judge who took sharp aim at both Goldman and the government, questioning why it took them so long to bring the misconduct to light.
Matthew Taylor had admitted in a guilty plea this year that he concealed an unauthorized $8.3 billion trading position in 2007. He told Goldman within 36 hours but escaped criminal charges until this year.
"Goldman was silent about Taylor's lies," U.S. District Judge William Pauley said in federal court in Manhattan.
The investment banking firm fired Taylor but didn't disclose the full extent of his misconduct, clearing the way for him to continue as a trader for Morgan Stanley for another four years, the judge said.
[font size=1]-snip-[/font]
AP foreign, Friday December 6 2013
TOM HAYS
Associated Press= NEW YORK (AP) — A former Goldman Sachs trader was sentenced to nine months in prison for wire fraud Friday by a Manhattan judge who took sharp aim at both Goldman and the government, questioning why it took them so long to bring the misconduct to light.
Matthew Taylor had admitted in a guilty plea this year that he concealed an unauthorized $8.3 billion trading position in 2007. He told Goldman within 36 hours but escaped criminal charges until this year.
"Goldman was silent about Taylor's lies," U.S. District Judge William Pauley said in federal court in Manhattan.
The investment banking firm fired Taylor but didn't disclose the full extent of his misconduct, clearing the way for him to continue as a trader for Morgan Stanley for another four years, the judge said.
[font size=1]-snip-[/font]
Read more: http://www.theguardian.com/world/feedarticle/11099049
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
