French Bank Says Rogue Trader Lost $7 Billion
18211
SociÃ©tÃ© GÃ©nÃ©rale said the trader made bad bets on stocks and then, in trying to cover up those losses, dug himself deeper into a hole.
4946
French bank Societe Generale said Thursday it has uncovered a $7.14 billion fraud Â one of history's biggest Â by a single futures trader who fooled investors and overstepped his authority.
335483
French police questioned a junior trader on Saturday blamed for causing a $7 billion loss at bank Societe Generale after keeping his superiors in the dark for months about thousands of illicit deals.
413050
Senior French politicians stepped up calls for top managers at SociÃ©tÃ© GÃ©nÃ©rale to resign over a rogue traderâs deals that cost the bank more than $7 billion.
709108
InfoWorld - The huge losses reported by French bank Soci??t?? G??n??rale, apparently caused by a rogue trader with inside knowledge of the bank's procedures, don't necessarily point to an IT systems failure but rather to poor management of those systems, analysts say.
80733
Societe Generale came under mounting pressure on Friday to give a full account of how a rogue trader managed to dupe his bosses and run up a $7 billion loss -- while his family said he had been made a scapegoat.
440707
Societe Generale files a legal complaint against the trader accused of fraud which led to huge losses at the bank.
467215
French Economy Minister Christine Lagarde said on Monday that Societe Generale, hit by $7 billion in losses from rogue trades, was under no pressure to merge with another bank as its shares plunged.
506342
The SociÃ©tÃ© GÃ©nÃ©rale worker who cost the French bank $7 billion in bad trades told investigators that all he wanted was to be respected, and to earn a big bonus.
495626
The board of French bank Societe Generale met Wednesday with its top executive under intense pressure over the loss of $7.09 billion blamed on a rogue trader.
366812
The French bank hit by eleven-figure losses thanks to a rogue employee probably wasn't harmed by poor IT systems, but by poor management of those systems, according to analysts.
116259
The day that SociÃ©tÃ© GÃ©nÃ©rale said JÃ©rÃ´me Kerviel, a rogue trader, had cost it billions, it announced a large subprime-related write-down.
278239
Developer turned gambler drops French bank in $7.2bn hole The apparent ease with which a former software developer turned rogue trader was able to sink France's second-biggest bank into a â¬4.9bn ($7.2bn) hole has sparked questions about the effectiveness of risk analysis systems.â¦
260420
SociÃ©tÃ© GÃ©nÃ©rale, the French bank that earned the respect of it rivals, is now embarrassed by a rogue trader.
138093
â¢ 2008: French bank Societe Generale uncovers an alleged $7.14 billion fraud by a futures trader who fooled investors and overstepped his authority.
111094
Police have taken into custody the trader blamed for a $7 billion fraud at French bank Societe Generale, a judicial source said on Saturday.
25251
A "massive fraud" by a junior rogue trader has punched a $7 billion hole in the finances of French bank Societe Generale, leaving its credibility in tatters and forcing it to get emergency cash.