Ex-Goldman Sachs Group trader Matthew Marshall Taylor pleaded guilty to one count of wire fraud Wednesday in connection with charges that he defrauded the Wall Street bank out of $118 million in 2007.
Taylor voluntarily turned himself in to agents with the Federal Bureau of Investigation in New York on Wednesday morning. Sentencing for the former trader was scheduled for July 26, and bond for Taylor was set at $750,000.
The maximum penalty for the charge is 20 years in prison, plus two times the monetary loss suffered by Goldman Sachs.
"Matt Taylor has accepted responsibility for his conduct today," his lawyer said in a statement. "The unfortunate events of late 2007 were an aberration. He looks forward to the opportunity to put this behind him and resume what has otherwise been a productive and exemplary life."
The Commodities Futures Trading Commission filed a civil lawsuit against Taylor in November, accusing him of fabricating trades to conceal an $8.3 billion futures position. The CFTC sought $130,000 in penalties.