OLIVE BRANCH — Federal prosecutors say a commodities trader ran up more than $141 million in losses through the Chicago Board of Trade through unauthorized buying and selling of wheat futures.
Evan Brent Dooley of Olive Branch has been indicted on wire fraud and other charges.
The indictment accuses Dooley of lying about his finances to establish a relationship with the Memphis office of the MF Global commodities brokerage.
The indictment returned yesterday alleges Dooley used his account with MF Global to engage in unauthorized night trading in Feb. 2008.
The company shut down his account when it discovered the trading.
Dooley’s defense attorney, Keri Ambrosio, hasn’t returned a call seeking comment today.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info