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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]
Source of loss Year Person(s) associated with incident at time of loss USD 10 bn 1 USD 10 bn -19.4% USD 8.06 bn United States: Archegos Capital Management [4] Total return swaps 2021 Bill Hwang: USD 9 bn: 1: USD 9 bn: −3.7%: USD 8.67 bn United States: Morgan Stanley [5] Credit Default Swaps: 2008 Howie Hubler: USD 9 bn: 1: USD 9 bn: −7.0% ...
This page was last edited on 11 November 2024, at 01:53 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may apply.
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