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

Discussion in 'Wall St. News' started by OnClose, Apr 17, 2013.

  1. OnClose


  2. Note this part:

    People need to be aware that there can be *severe* consequences to lying about your financial condition on an account application!

    Admittedly here the guy was a broker but the same principle could apply to retail traders too if they were naked short and their account incurred large losses on a crash or whatever.
  3. TraDaToR


    It was MF employees who liquidated the position( creating the biggest spike ever on wheat ) and he has to pay 141 M$??? That's crazy...I have no sympathy for him but most of the loss came from the stupid guy who sent a 32000 lots market order and liquidated the position...
  4. TraDaToR


    32000 lots ... 400000 $ per tick completely drunk...Imagine the hangover.:eek:
  5. Sometimes when I party....I get on my IB and trade with a big swinging dick.

    Lol wtf? Trading hammered, that's crazy.