Police probe $150m rogue trade attempt at Threadneedle

Police are investigating a suspected $150 million rogue trade attempt at Threadneedle.

The asset manager confirmed late on Tuesday evening that police had been informed after a suspicious trade triggered its internal controls.

The trade was spotted last August and was not executed, Threadneedle said.  A junior trader was sacked following the attempt, the firm added, and no client money was put at risk because the transaction did not go ahead.

According to the Financial Times, the suspect trade was worth in the region of $150 million and is believed to have been linked to Argentine warrants.

Threadneedle said: 'In August 2011, our systems stopped a suspicious attempted trade. The matter was immediately reported to the authorities and the individual involved was subsequently dismissed.'