Trader banned for buying 7 million barrels of oil after drinking binge

TrooperBari · Jun 29, 2010

http://www.guardian.co.uk/business/2010/jun/29/drunk-oil-trader-banned-fsa

A former oil futures broker who went on a weekend drinking binge before blacking out and trading more than 7m barrels of oil has been banned from working in the City for at least five years by the Financial Services Authority.

Steven Perkins had been suspended since July last year when the large volume of trading was discovered by the London-based oil broker PVM Oil Futures where he had worked since 1998.

The disciplinary action taken by the City regulator also includes a £72,000 fine which would have been £150,000 if the FSA had not taken in to account the financial hardship this would have caused the trader, who had repeatedly lied to his employer to cover up his activities.
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Even 72,000 quid is one hell of a hangover.

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Trader banned for buying 7 million barrels of oil after drinking binge

TrooperBari Well-Known Member

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Trader banned for buying 7 million barrels of oil after drinking binge

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