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The Boston Globe

Business

Goldman settles claims from 2007 for $1.5m

NEW YORK — Goldman Sachs has settled federal accusations that it failed to supervise a trader who fabricated ‘‘huge’’ positions at the bank, striking a deal that included $1.5 million in fines and broader regulatory sanctions.

The Commodity Futures Trading Commission’s case against Goldman stems from late 2007, when Matthew Marshall Taylor, then a trader at the Wall Street firm, was accused of entering fabricated trades that concealed a $8.3 billion trading position. The position resulted in nearly $119 million of losses for Goldman.

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