If Goldman Sachs knew in 2007 that Matthew Marshall Taylor had committed a fraud why was nothing done until 2012? Don't banks report fraud by its own people?
Oh, I forgot. Goldman committed fraud itself. Silly me!
Ex-Goldman trader's fraud caused $118 million loss: U. S. regulator
By Basil Katz - Reuters
(Reuters) - U.S. regulators on Thursday accused a former Goldman Sachs Group Inc trader of defrauding the Wall Street bank of $118 million in a scheme of fabricated trades and fake entries.
In a lawsuit filed in the U.S. District Court in Manhattan, the Commodity Futures Trading Commission (CFTC) said Matthew Marshall Taylor had manually entered fake trades in November and December 2007, in an attempt to conceal an $8.3 billion position in futures contracts.
The scheme cost the bank $118.44 million, the CFTC said.
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