A Mississippi trader pleaded guilty to commodities fraud Tuesday after running up more than $141 million in losses by shorting wheat futures contracts on the Chicago Board of Trade in 2008. Evan Dooley, 44, of Olive Branch, Miss., entered his guilty plea in federal court in Chicago. He worked in the Memphis office of the now-defunct commodities brokerage MF Global Inc. Dooley faces a maximum sentence of 10 years in prison and a $1 million fine, according to the U.S. attorney’s office in Chicago. He is scheduled to be sentenced on March 8. More in the Chicago Tribune here.
