One of the four National Australia Bank traders implicated in one of the country's largest corporate scandals has entered a guilty plea in relation to unauthorised trading charges.
The Melbourne court heard that Luke Edward Duffy, former head of NAB's foreign exchange desk, made around $145 million in false entries on the bank's trading system between October 2003 and January 2004, resulting in large bonuses for himself and his three co-defendants.
Mr Duffy faces a $220,000 fine, or five year custodial sentence for his role in the fraud.
According to reports in the Australian media, David Bullen, Gianni Gray and Vincent Ficarra each face 19 similar charges, as well as standing accused of obtaining property by deception. However, they all chose not to enter a plea.
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