Ex-Goldman Sachs Group Inc trader Matthew Marshall Taylor is expected to turn himself in to federal authorities to plead guilty to charges that he defrauded the Wall Street bank out of $118 million in 2007, two sources familiar with the matter said. Taylor was expected to voluntarily turn himself in to agents with the Federal Bureau of Investigation on Wednesday morning, said the sources, who spoke on condition of anonymity. The Commodities Futures Trading Commission filed a lawsuit against Taylor in November, accusing him of fabricating trades to conceal an $8.3 billion futures position. The CFTC sought $130,000 in civil penalties. Goldman itself paid $1.5 million last year to settle charges that it had failed to appropriately supervise Taylor. The bank has since put in place procedures to catch wayward trading activity more quickly. According to charges outlined against him, Taylor established his futures position in e-mini Standard & Poor's futures contracts
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