Dan Gordon, Merrill Lynch and the Missing $43 Million

Number 20901
Subject Money Laundering
Source Bloomberg Markets (Princeton, N.J.)
State NJ
Year 2003
Publication Date November 2003
Summary Dan Gordon, a 24-year-old Merrill Lynch energy trader, embezzled $43 million from the world's largest securities firm, which ignored warnings of criminal conduct by Gordon and which didn't disclose the theft until after it was reporter by Bloomberg News, three years after Gordon's crimes. Four months after the first Bloomberg News story, Gordon pleaded guilty to fraud, money laundering, and conspiracy.
Category Contest Entry
Pages 10
Keywords Williams School;Merrill Lynch & Co.;U.S. Justice Department;Dan Gordon;embezzlement;energy trade;offshore companies;offshore accounts;conspiracy;securities;Yale University;Boston University;money laundering;Ostrich Capital;Kings Holdings LLC;AIG Private Bank;Constellation Energy Group;Newport Pacific Financial Group SA;Allegheny Energy Inc.;Mellon Bank;K2 Energy Corporation;Falcon Energy Holdings;Daticon;fraud
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