Broker Sent Oil Prices to Eight Month High in a Drunken Stupor

2 replies
  • OFF TOPIC
  • |
A Drunk senior trader bought 69% of the worlds oil-futures and made losses of $9,763,252 in a matter of hours.

Broker Sent Oil Prices to Eight Month High in a Drunken Stupor

On June the 30th 2009 oil mysteriously jumped by more than $1.50 a barrel during the night, to reach its highest price in eight months, the kind of swing that is caused by a major geopolitical event.

The amazing, true cause of this price spike has now been released by a Financial Services Authority investigation (FSA).

...By the time PVM had realised the transactions had not been authorised by a client, they had incurred losses of $9,763,252.

...Following an official investigation Mr Perkins admitted to having a drink problem, had his trading license revoked for five years, and was given a fine of £72,000.
  • Profile picture of the author MyNiches
    Haha, yep, so in just 2 more years he'll be back to work
    {{ DiscussionBoard.errors[7076210].message }}

Trending Topics