NEW YORK • 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.
Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.