From Times Staff and Wire Reports

Traders Indicted in T-Bond Spree: The two traders, who allegedly engaged in a money-losing trading spree in Treasury bond futures and options in October, were charged with six counts of wire fraud, a U.S. attorney said. Anthony Catalfo, 29, and Darryl Zimmerman, 30, allegedly misled firms that cleared their trades, saying they would limit their activities and financial exposure. The trading occurred at the Chicago Board of Trade. Before entering orders valued at more than $1 billion, they allegedly lied to fellow brokers that they would be managing large sums for outside investors. The indictment states that neither trader had the capital to stand behind his trading position, exposing the clearing firms to huge losses when the positions were liquidated.

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