Investments

Barclays mortgage bond trader fired for allegedly providing inaccurate information to clients

Yoon Seok Lee “discharged” on Feb. 11

[Correction: This article is updated to reflect a correction in the Bloomberg article, which corrected the reason for Lee's dismissal from allegedly lying to providing inaccurate information clients.]

Barclays Capital (BCS) fired one of its mortgage bond traders after he allegedly provided inaccurate information to clients involving 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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