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Ex-employee fined for defrauding Goldman Sachs

Friday, 30 Aug 2013 | 11:20 AM ET
Adam Jeffery | CNBC

A former employee of Goldman Sachs Group was fined $500,000 for defrauding the investment bank in December 2007 by hiding trading positions, the U.S. derivatives regulator said on Friday.

The U.S. District Court for the Southern District of New York ordered the ex-employee, Matthew Marshall Taylor, to pay the civil fine after finding he violated anti-fraud provisions.

The Court Order stems from a complaint filed by the Commodity Futures Trading Commission on Nov. 8, 2012, the agency said.

Taylor had pleaded guilty in a related criminal proceeding based on the same facts, the CFTC said.

—By Reuters.

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