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.