Drunken rogue trader is banned

AN ALCOHOLIC rogue trader who cost his company pounds 6m after a drunken golf weekend was yesterday fined pounds 72,000 and banned for a minimum of five years by the City watchdog.

Steve Perkins, a broker with PVM Oil, was sacked last independent massage girl in shanghai year after buying more than 7m barrels of oil - pushing up the price of Brent crude more than two dollars to an eight-month high.

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The Financial Services Authority (FSA) said Mr Perkins, from Brentwood in Essex, was "not a fit and proper person" to work in the industry due to his alcoholism.

The independent massage girl in shanghai unauthorised trading took place on June 29 and 30 last year, following a drinking binge at a PVM golf weekend.

Mr Perkins - who took the Monday off work but continued to drink from around midday onwards - made his first batch of unauthorised trades that evening.

But the most serious damage was done in the early hours of Tuesday June 30, when Mr Perkins bought a net 7.13m barrels of oil. The unusually high trading volume in the typically quiet overnight period sent prices surging.

Later that morning the trader began selling down his huge position but repeatedly lied to PVM about the unauthorised activity until admitting what he had done later, when his trading access was suspended and the company sold off the rest of the oil. The FSA made no criticism of PVM in its report.