Thursday, January 24, 2008

If You're Going to Commit Fraud; Go Big 'Rogue trader to cost SocGen $7bn'

A billion here, a billion there and it starts adding up:

French bank Societe Generale says it has uncovered "massive" fraud by a Paris-based trader which resulted in a loss of 4.9bn euros ($7.1bn; £3.7bn).

More info on a new Nick Leeson here.

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