Ex-Goldman trader surrenders in NY fraud probe

Matthew Marshall Taylor allegedly hid a trade that cost his employer more than $118 million

By Associated Press

Published April 3, 2013 2:45PM (EDT)

NEW YORK (AP) — A former Goldman Sachs trader has surrendered in connection with a federal securities fraud probe.

The FBI says Matthew Marshall Taylor surrendered Wednesday morning in Manhattan. The U.S. attorney's office said he was awaiting a court appearance.

In November, the Commodity Futures Trading Commission alleged in a lawsuit that Taylor hid a trade that cost his employer more than $118 million.

The agency said he failed to disclose an $8 billion position on a futures contract that came back to hurt the company in December 2007.

The lawsuit did not name Goldman as Taylor's employer. However, a Goldman spokeswoman confirmed he had worked there, admitted misconduct and was terminated.

The name of his attorney was not immediately known.

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