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Day trader guilty of stock market abuse to save £300,000 on fine

THE Scots former stockbroker who has been fined £1 million in the first case of its kind for abuse of financial markets plans to save £300,000 by paying it off early.

Barnett Alexander, 46, will only have to find £700,000 if he is able to pay the Financial Services Authority (FSA) within 14 days.

The Herald revealed yesterday how day trader Mr Alexander, from Bearsden, East Dunbartonshire, made £8000 a day from global spread-betting giant City Index.