Ex-Goldman Trader Pleads Guilty To Fraud

A former Goldman Sachs Group Inc. trader admitted Wednesday to concealing a massive, $8.3 billion futures position more than five years ago—one that was 10 times as large as the trading limit for his business unit.

Federal prosecutors in Manhattan alleged that Matthew Taylor, 34 years old, intentionally hid the trading position from his supervisors in December, resulting in a loss of $118.4 million to Goldman.

Source: WSJ