A rogue trader cost Miller's firm over $10M, forcing voluntary client repayments
David Miller · Trust Is the Most Valuable Intangible Currency in Business · May 20, 2025 · at 18:29
Serial entrepreneur David Miller describes hiring a former UBS trader in 2016 for a hedge fund subsidiary, leading to catastrophic off-strategy trading losses.
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“So that, that ended up costing my firm well over ten million dollars that I was the majority owner of in addition to the millions and millions of dollars that our clients lost and ended up voluntarily repaying back our clients, but that, but yeah, that, that's a process that lasted probably six years from that one trade. And yeah, it was easily a ten million dollar mistake.”
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