Ex-Merrill Lynch energy trader pleads guilty to fraud

At 24, Daniel Gordon headed Merrill Lynch’s energy trading business. He has now pleaded guilty to a $43 million fraud. Paul Lyon reports

Daniel Gordon, former head of Merrill Lynch’s Global Energy Markets (GEM) Group, has pleaded guilty to defrauding the company of $43 million. And the US Securities and Exchange Commission (SEC) has also charged Gordon with securities violations in connection with his role in three separate illegal transactions.

Gordon now faces a prison term of 55 years and fines of $1.25 million for the three charges, which include conspiracy to falsify books and records. Gordon also agreed to forfeit the

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