Dispute 		cmdty fx repo real
estate 		short
term 		loans
equity fx  ir  cmdty note

Incident

Incident
Bank Of Montreal U Turn Quotes
Incident Summary
SEC Charges New York Traders at BMO with overvaluing OTC traded derivatives using non-binding sham U-Turn quotes provided by RealMarks, a reportedly independent pricing service run by an individual with multiple felony convictions who served years in prison.
Alleged Loses:
$853,000,000
Date
Nov 18, 2008
Post Madoff
No

Red Flags

Red Flag Summary
No independent valuations -Overvalued The Commodity Derivatives Trading Portfolio.
Ten12 Red Flags
Other Red Flags
Ten12 Security prices
Investment Advisor Analysis
Fund Vendor Analysis
Non Registered Funds

Fund(s)/Portfolio(s):

Commodity

Vendors

Accountant

Custodian Bank

Fund Administrator

Pricing Vendor

Prime Broker(s)

-

-

-

-

-

Entity

Fined Entity

Fines & Penalties

- David Lee,David Lee,Kevin P. Cassidy,Edward O'Connor,Scott Connor,Optionable

- $10,410,000

People

Sec

SEC Charges Banker And Brokerage Executives With Multimillion Dollar Financial Fraud

DAVID LEE, KEVIN P. CASSIDY, EDWARD O'CONNOR, and SCOTT CONNOR

SEC Charges Banker and Brokerage Executives With Multi-Million Dollar Financial Fraud

Notice of Annual Meeting

KEVIN CASSIDY, EDWAR O'CONNOR OPTlONABLE INC., DAVID LEE and ROBER't1\ÖOtt,

News

Former Bank of Montreal trader avoids jail after aiding U.S. fraud probe

Former trader pleads guilty in fraud that cost BMO $850-million

Former Optionable Inc. CEO Hit With $1M BMO Trading Scandal Penalty

Ex-Bank of Montreal trader to pay $14.2 million for trading scam