Baltimore Real Estate Investing

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Saturday, May 23, 2015

Barclays mortgage bond trader fired for allegedly lying to clients

Barclays Capital (BCS) fired one of its mortgage bond traders after he allegedly lied to clients about residential mortgage-backed securities trades.


According to a report from Bloomberg (first reported by Asset-Backed Alert), Barclays terminated Yoon Seok Lee on Feb. 11 for "allegations involving certain inaccurate communications to customers during the negotiation of residential mortgage-backed securities trades."

Click through to the Bloomberg report from more on Lee's firing.

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