The criminal charge comes about five months after the Commodity Futures Trading Commission sued Mr. Taylor in a civil lawsuit, alleging he entered fabricated trades by bypassing an internal system that was designed to send electronic trades to the Chicago Mercantile Exchange.

WSJ: Ex-Goldman Trader Pleads Guilty to Fraud

Since the governor's tax plans for teachers were unveiled last month, the state's school system has been placed under scrutiny after a civil rights' group filed a lawsuit claiming that the state was failing to provide the basic provisions of education.

BBC: Teachers reject tax exemption