Ex-Goldman trader Taylor pleads guilty to wire fraud

Former Goldman Sachs trader Matthew Taylor departs Manhattan Federal Court in New York, April 3, 2013. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized $8.3 billion futures trade in 2007, saying he exceeded internal risk limits and lied to supervisors to cover up his activities. Credit: Reuters/Brendan McDermid

Former Goldman Sachs trader Matthew Taylor departs Manhattan Federal Court in New York, April 3, 2013. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized $8.3 billion futures trade in 2007, saying he exceeded internal risk limits and lied to supervisors to cover up his activities.
Credit: Reuters/Brendan McDermid

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NEW YORK - Ex-Goldman Sachs Group Inc trader Matthew M. Taylor pleaded guilty on Wednesday to defrauding the Wall Street bank with an unauthorized $8.3 billion futures trade in 2007, saying he exceeded internal risk limits and lied to supervisors to cover up his activities.

Taylor, 34, pleaded guilty to one count of wire fraud in federal court in lower Manhattan on Wednesday morning, after voluntarily turning himself into federal authorities earlier in the day.

By Lauren Tara LaCapra and Nate Raymond
(Reuters) | Wed Apr 3, 2013 3:58pm EDT

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