Police in London are investigating a suspected $150 million (95 million pounds) trading fraud attempted by a former trader at the British investment house Threadneedle, the Financial Times reported on Wednesday.
A junior trader, working in the company's investment arm, was dismissed after attempting the rogue trade, the FT said, citing confirmation from Threadneedle.
Internal company controls were triggered by the suspicious trade, which was stopped from being executed last August, the FT said.
The newspaper cited people familiar with the case as saying the trade was alleged to be worth $150 million and linked to Argentine warrants. No client money was lost, however, as the rogue trade was not executed.
Threadneedle, the London-based subsidiary of Ameriprise, the U.S. financial services group, manages about 60 billion pounds in assets.
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, the company is quoted as saying in the article.
City of London police declined to comment and Threadneedle could not be reached for immediate comment.
(Reporting by Stephen Mangan; Editing by Gary Hill)