P. M. BRIEFING : Jailed Trader Fined $1.125 Million

From Times wire services

A futures trader already serving a six-year jail term for donning a wig and disguising himself in the pits was fined a record $1.125 million and barred permanently from the Chicago Board of Trade, the exchange said today.

Trader Thompson Sanders must pay the record fine for engaging in a yearlong scheme where he and several confederates used counterfeit trading credentials and disguises so they could acknowledge only the trades where they turned a profit and walk away from losing transactions.

Copyright © 2019, Los Angeles Times
EDITION: California | U.S. & World
59°