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Ex-Goldman trader accused of $118 million loss denies fraud

Nov 12 2012 Basil Katz, Reuters

A lawyer for a former Goldman Sachs Group Inc trader denied on Friday U.S. civil accusations that his client had defrauded the Wall Street bank of $118 million. The trader, Matthew Marshall Taylor, was sued on Thursday in U.S. District Court in Manhattan by the Commodity Futures Trading Commission (CFTC) which said he had manually entered fake trades in November and December 2007, in an attempt to conceal an $8.3 billion position in futures contracts. "Matt Taylor is disappointed the CFTC filed a complaint about trades in a Goldman proprietary account which took place five years ago," Ross Intelisano, Taylor's New York-based attorney, said in a statement to Reuters on Friday. "He strenuously denies all of the allegations," the statement said. "Matt never intentionally entered 'fabricated trades' to conceal any trading activity and Goldman never alleged he did so at the time of his termination or thereafter." The CFTC is seeking a $130,000 civil penalty against

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