Matthew Marshall Taylor: Ex-Goldman Sachs trader surrenders in New York in fraud probe

Allegedly hid trade that cost employer 118 million

NEW YORK, New York -   (AP) -- A former Goldman Sachs trader has surrendered in connection with a federal securities fraud probe.

   The FBI says Matthew Marshall Taylor surrendered Wednesday morning in Manhattan. The U.S. attorney's office said he was awaiting a court appearance.

   In November, the Commodity Futures Trading Commission alleged in a lawsuit that Taylor hid a trade that cost his employer more than $118 million.

   The agency said he failed to disclose an $8 billion position on a futures contract that came back to hurt the company in December 2007.

   The lawsuit did not name Goldman as Taylor's employer. However, a Goldman spokeswoman confirmed he had worked there, admitted misconduct and was terminated.

   The name of his attorney was not immediately known.