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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. [1] [2] [3]
The following contains a list of trading losses of the equivalent of US$100 million or higher. Trading losses are the amount of principal losses in an account. [1] Because of the secretive nature of many hedge funds and fund managers, some notable losses may never be reported to the public.
Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure. These new terms are typically obtained through loan modification, short sale negotiation, short refinance negotiation, deed in lieu of foreclosure , cash-for-keys negotiation, a partial claim loan, repayment plan , forbearance, or other loan work-out.
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What is a loss mitigation outroad that will get you through it quickly? Reinstatement — but you’ll need to have some cash on hand. With this choice, you repay your missed payments in a lump sum.
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 ...
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