socialmedian: FT.com / UK - Broker admits error over dates

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FT.com UK - Broker admits error over dates

Submitted by Priyankagill

Mar 24, 2009

Summary

A City broker accused of defrauding his top client of millions yesterday admitted misrepresenting the death of his father in an attempt to explain away his mistakes.

Matthew Bomford and his former employer, MF Global, are being sued for £30m for allegedly deceiving Rajesh Gill, a day trader, about his performance to make sure he kept trading - an activity on which the brokerage was making millions in commission payments.

Mr Bomford admits that at one point he told Mr Gill that his account balance was £9.3m, when the true balance was less than £3m.

In his original sworn statement, Mr Bomford claimed that his father had died during the week leading up to that conversation, and that the ensuing turmoil may have contributed to his "mistake".

In fact, Mr Bomford's father did not die until June 2002, more than eight months after the exchange with Mr Gill about his account, public records show. Read the full article

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