Merrill Lynch's former chief energy trader, Daniel L. Gordon, was sentenced Friday to 3 1/2 years in prison by a judge who said his theft of $43 million from the brokerage was the action of "an arrogant would-be master-of-the-universe." Gordon, who said his guilty plea "will serve as my scarlet letter," must pay a $100,000 fine and forfeit the stolen money. Prosecutors say Gordon fooled Merrill Lynch into making a $43 million premium insurance payment that actually went to accounts he controlled.
October 17, 2005 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Merrill Lynch’s former chief energy trader was sentenced Friday to 3 1/2 years in prison by a judge who said his theft of $43 million from the brokerage was the action of “an arrogant would-be master-of-the-universe.”
Daniel L. Gordon, 29, of Old Lyme, Conn., was sentenced by U.S. District Judge Gerard E. Lynch after Gordon apologized and said his guilty plea “will serve as my scarlet letter for the rest of my life.” He was also ordered to pay a $100,000 fine and to forfeit the $43 million.
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