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Derivatives Trader Has Taxing Problems

The New York Daily News reports that Llewellyn Connolly, a former MD at Swiss Re. (and ex-Lehman and Goldman staffer) pleaded guilty in Manhattan Supreme Court last week to felony tax fraud.

Goldman Partners Get Big Pay Boost

The Wall Street Journal reports that Goldman Sachs has awarded CEO Lloyd Blankfein $12.6m in restricted stock for his work in 2010 (up from $9m the year before), and increased his base pay to $2m (up from $600,000).

More Bonus News

The Wall Street Journal reports that, according to its sources, some senior employees over at Bank of America Merrill Lynch who receive a 2010 bonus of over $5m will be able to take up to 30% of their payout in cash.

Citi Warned About Fixed Income Trading Risks In 2005

Bloomberg reports that, according to the Financial Crisis Inquiry Commission, Citigroup's US fixed income unit was warned in 2005 'that it was taking too much risk' and that management oversight was considered 'less than satisfactory' - three years before mortgage losses in the unit led to a near collapse of the firm.