socialmedian: Trader sues broker for £35m over 'hidden losses'

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Trader sues broker for £35m over 'hidden losses' | News

Submitted by Priyankagill

Mar 24, 2009

Summary

One of the City's most prolific traders is suing an international brokerage firm for £35million in one of the biggest lawsuits of its kind.

Self-taught trader Rajesh Gill claims brokers at MF Global concealed his multi-million-pound losses so the firm could capitalise on commissions from his trades.

Mr Gill, 37, a Harvard University and London School of Economics graduate, claims his manager, Matthew Bomford, fraudulently hid the losses because the firm had earned up to £3million in commissions. Read the full article

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