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On the eve and afternoon of January 25, 2008, police raided the Paris headquarters of Société Générale and Kerviel's apartment in the western suburb of Neuilly-sur-Seine [16] to seize his computer files. [17] On January 26, 2008, the Paris prosecutors' office stated that Kerviel "is not on the run. He will be questioned at the appropriate ...
Jérôme Kerviel (French pronunciation: [ʒeʁom kɛʁvjɛl]; born 11 January 1977) is a French rogue trader who was convicted and imprisoned in the 2008 Société Générale trading loss for breach of trust, forgery and unauthorized use of the bank's computers, resulting in losses valued at €4.9 billion.
He was found to be solely responsible for the record loss suffered by Société Générale in early 2008, and was sentenced to five years in prison, with two of those years suspended, and ordered to pay damages of €4.9 billion to the Bank. [53]
Loss Institution Market activity Sentence Incident Jérôme Kerviel [10] Paris, France 2006–2008 $6.9 billion (€4.9 billion) Société Générale: European Stock Index Futures: 5 years prison of which 2 years were suspended 2008 Société Générale trading loss: Yasuo Hamanaka [10] Tokyo, Japan 1996 $2.6 billion Sumitomo Corporation ...
U.S. stocks closed higher as investors digested a slew of corporate earnings reports, including some from the so-called Magnificent 7. The broad S&P 500 index closed up 0.51%, or 31.86 points, to ...
2008 Société Générale trading loss; Yasuo Hamanaka caused a loss of about $2.6 billion, over ten years, in unauthorized copper trading on the London Metal Exchange; Nick Leeson caused a loss of £827 million for Barings Bank, leading to its collapse; Howie Hubler lost $9 billion in one CDS trade for Morgan Stanley, the largest single loss ...
They estimate Trump’s proposed tariffs could increase the cost of these items in the range of 12.6% to 20.6%, and that it equals a loss in consumer purchasing power of between $13.9 and $20.4 ...
Love, passion and self-expression are front and center for you this month, Aries. Once Venus enters your sign on Feb. 4, your charm and magnetism get a significant boost, making you feel like the ...