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January 24, 2008

Trading Ban for Societe Generale – after fraudulent trading losses

Societe Generale, France’s second largest bank by market value, uncovers a 4.9 billion euros ($7.1 billion) trading fraud. Institutional clients were eager to announce a trading ban with Societe Generale in all asset classes, until further clarification on this single future trader’s fraudulent trade and the actual losses.

One Response to “Trading Ban for Societe Generale – after fraudulent trading losses”

  1. Angelos Taplatzidis Says:

    1995 Nick Leeson Barings Bank £827 million Nikkei Indet Futures 6.5 years
    1995 Toshihide Iguchi Resona Holdings £557 million Treasury Bonds 4 years
    1996 Yasuo Hamanaka Sumitomo Corp. $2.6 billioni Copper 8 years
    2002 John Rusnak Allied Irish Banks £350 million FX options 7.5 years
    2003-2004 Luke Duffy National Australia Bank AU$360 millioin FX options 16 months
    2006-2008 Jerome Kerviel Societe Generale €4.9 billion European Stock Indext Futures We will see..

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