Former Merrill Lynch Trader Banned
For consciously overvaluing his trading positions in order to hide his trading losses, former Merrill Lynch (NYSE:BAC) senior trader Alexis Stenfors was banned for five years for his actions.
Writedowns as a consquence of Stenfors' actions came in at a hefty $456 million.
The Merrill Lynch International Bank (MLIB) was fined $3.8 million for its failure to supervise activities which included the actions of Stenfors.
Events took place in the London office of the company.
Former Merrill Lynch Trader Banned
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