Ex-Goldman Sachs trader charged with $118 million trading fraud

[sailingaway]

A former trader with US banking giant Goldman Sachs was arrested Wednesday on criminal charges of fraud linked to a scheme to hide an $8 billion futures bet, officials said.

Matthew Marshall Taylor “was in FBI custody as of early this morning,” a source familiar with the government’s case told AFP on condition of anonymity.

The federal prosecutor’s office in Manhattan said Taylor was due to appear before a judge on the charges “in connection with a scheme to accumulate and conceal an unauthorized $8 billion position in a trading account that he managed at Goldman, Sachs & Co.”

more: http://www.rawstory.com/rs/2013/04/...rader-charged-with-118-million-trading-fraud/

 

[WM_in_MO]

Thats a start.

 

[MoneyWhereMyMouthIs2]

Whistleblower? Someone being stupid with their money, with no gov guarantees?

 

[jim49er]

So if there is fraud against a bank you go to jail but when they do it to the public it's a slap on the wrist.