Societe Generale Trading Loss of $ 5billion

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Jérôme Kerviel (born January 11, 1977)[1] is a French trader who has been charged in the January 2008 Société Générale trading loss incident, resulting in losses valued at approximately €4.9 billion.[2] Société Générale characterises Kerviel as a rogue trader and claims Kerviel worked these trades alone, and without its authorization. Kerviel, in turn, told investigators that such practices are widespread and that getting a profit makes the hierarchy turn a blind eye.[3] Until the discovery of fraud perpetrated by Bernard Madoff, it was reported to be the largest fraud in banking