Man guilty of unauthorized futures trading; faces $1M fine
by Associated Press
Published: December 12,2012
OLIVE BRANCH — A Mississippi man has pleaded guilty to making unauthorized wheat futures trades through the Chicago Board of Trade causing MF Global Inc. to lose $141 million.
Federal officials in Chicago said 44-year-old Evan Brent Dooley of Olive Branch entered the plea to commodities trading violations. Authorities say he made large, unauthorized overnight trades through his own account. They say Dooley made the trades knowing he couldn’t pay for potential losses.
Dooley is free on bond pending sentencing in March. He faces up to 10 years in prison and a $1-million fine. Authorities say he made the trades associated with MF Global’s office in Memphis, Tenn., in February 2008.
MF Global deactivated Dooley’s account and liquidated the remainder of his position when it learned about the trades.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Prescription for success — Transcript Pharmacy continues fast growth
- Study: Mississippi has highest sales tax rate in U.S.
- MSU researchers develop timber-management software
- New law on taxing methods hailed as big win for businesses
- Panther Creek megasite — Putting a value proposition out there
- Nehi Bottling Company has been a Cleveland fixture for 85 years
- BBB issues warning involving asphalt paving scam
- Running luxury car dealerships, like Mercedes of Jackson, comes naturally to Trudy Higginbotham Moody
- Baker Donelson's David A. Rueff Jr. co-authors guide
- Panther Creek's location in medical industry zone boosts bio-med prospects