Mr. Perkins had just returned from a drunken golf weekend with colleagues in June last year when he sat down in front of his laptop at his home east
of London and started to place bets on Brent crude futures, the Financial Services Authority disclosed in a report released Tuesday.
He continued to drink and place bets through the night and by the morning of June 30, 2009, Mr. Perkins had placed more than $520 million worth of
trades, at one point pushing the price of oil to $73.05, an eight-month high. Mr. Perkins’ trades were the main reason the price gained about $1.65 a
barrel in just over two hours in the middle of the night, according to the report. |
