CFTC v. Matthew Marshall Taylor, Case No. 12-civ-8170 (S.D.N.Y.). On November 8, 2012, the CFTC announced fraud charges against Matthew Marshall Taylor. According to the CFTC’s complaint, Taylor was a Vice President and trader for a large Futures Commission Merchant (“FCM”). The CFTC alleges that Taylor deliberately hid from his employer the size of the position in S&P 500 e-mini futures contracts, and the profits and losses in a FCM firm account that he traded. Taylor hid his position by circumventing the FCM’s system for entering trades and by fabricating e-mini futures trades. Taylor also obstructed discovery of his fake trades, his position, and his profits and losses by timing the entry of the fake trades with the running of internal reports at the FCM and by giving false information to the FCM’s employees. Taylor’s conduct resulted in about $188,440,000 in losses to the FCM. The CFTC is seeking civil monetary penalties, trading and registration bans, and injunctive relief.
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