LONDON (Bloomberg) - Bermuda-based MF Global Ltd.'s London brokerage unit is being sued for at least £9.3 million ($12.8 million) by a day trader who says an account manager misrepresented his results.

Lawyers for Raj Gill, an independent trader, said on the first day of trial at London's High Court that between April 2001 and February 2002 his account manager at MF Global lied about the results of Mr. Gill's trading and failed to follow instructions, causing him to wipe out a trading account containing almost £10 million.

"The natural and intended consequence of all of the misrepresentations was to keep Mr. Gill trading" with MF "and paying millions of pounds in commission, a substantial part of which found its way to", the account manager in the form of bonuses, Gill's lawyers Neil Kitchener and Steven Elliott said in written arguments to the court.

Had he known he was losing money, he would have revised his trading strategy, his lawyers said. They claim that the minimum Mr. Gill seeks in compensation is £9.3 million plus interest.

"It is unfortunate that this individual has decided to use the court's time and resources in an attempt to shield himself from the risks and transfer the responsibilities that he knowingly undertook," said Diana DeSocio spokeswoman for MF Global. "We look forward to presenting the facts of the case to the court."

Lawyers for MF and the account manager will make their case later in the trial.