Ex-MF Global Broker Sentenced To 5 Years For Rogue Trades


Former MF Global broker Evan Brent Dooley was sentenced to five years in prison for making unlawful unauthorized trades that caused the now-defunct futures firm to lose more than $141m in 2008.

The sentence, half of what the government sought, was imposed by U.S. District Judge Robert M. Dow in Chicago. Dooley, who pleaded guilty in December to two counts of violating speculative position limits under the Commodities Exchange Act, was also ordered to serve one year of supervised release and to pay $141m in restitution.

'I stand before you today broken, humbled, a deeply remorseful man', Dooley told Dow in a choked voice before being sentenced yesterday. 'I ask that you have mercy on me'.

Dooley was indicted in 2010, more than a year before the bankruptcy filing of brokerage parent MF Global Holdings. Still, the incident was cited as an example of risk management weakness in a 124-page report released this month by trustee Louis Freeh analyzing the firm’s failure.

Hit the link below to access the complete Blooomberg article:

Ex-MF Global Broker Sentenced to 5 Years for Rogue Trades

Morgan Stanley Said to End Ban on Junior Banker Job Hunts

Goldman Traders Cede Tokyo Party Bar to Google-Apple Invasion

image: © Matthew Rutledge

JefferiesAnd the Best Place to Work in the global financial markets 2018 is...

Register for HITC Business News