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Jerome Kerviel

UBS announced Thursday that rogue trading by one of its investment bank traders had cost the Swiss banking giant a staggering $2 billion.

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A history of big trading lossesupdated: Thu Sep 15 2011 10:43:00

UBS has revealed a $2 billion unauthorized trading loss. CNN's Jim Bittermann looks at past trade losses.

CNNMoney: UBS: 'Unauthorized' trades cost us $2 billionupdated: Thu Sep 15 2011 09:12:00

Swiss banking giant UBS discovered that unauthorized trading has cost it an estimated $2 billion, it announced Thursday.

French rogue trader's bank won't demand billions in damagesupdated: Wed Oct 06 2010 15:40:00

The bank that French rogue trader Jerome Kerviel worked for does not intend to force him to pay 4.9 billion euros (about $6.8 billion) in damages to the bank, a representative said Wednesday.

French rogue trader Kerviel found guiltyupdated: Tue Oct 05 2010 17:58:00

Trader Jerome Kerviel was found guilty of all charges Tuesday for betting 50 billion euros ($61 billion) of a French bank's money without its knowledge.

French trader guilty in $61B scandalupdated: Tue Oct 05 2010 17:58:00

Jerome Kerviel is found guilty of all charges for betting $61 billion of a bank's money. CNN's Jim Bittermann reports.

Defense concludes case in French banking corruption trialupdated: Fri Jun 25 2010 12:02:00

Defense lawyers wrapped up their case Friday for French trader Jerome Kerviel, who is on trial for allegedly betting 50 billion euros ($61 billion) of a French bank's money without its knowledge.

Prosecutors request 4-year sentence in Kerviel caseupdated: Thu Jun 24 2010 10:22:00

French prosecutors demanded Thursday that trader Jerome Kerviel serve four years in jail for allegedly betting €50 billion ($61 billion) of his employer's money without its knowledge.

French trader on trial over alleged $6B fraudupdated: Tue Jun 08 2010 10:32:00

The trial of a French trader accused of wracking up almost $6 billion in losses through authorized trades opened in Paris Tuesday.

Trader faces trial over alleged $7B fraudupdated: Tue Sep 01 2009 07:14:00

The French trader accused of a multi-billion-dollar fraud at banking giant Societe Generale will go on trial next year, a lawyer for the bank said Tuesday.

Fortune: Embattled Soc Gen CEO steps downupdated: Thu Apr 17 2008 16:44:00

Daniel Bouton will step down as chief executive of Société Générale in May, although he'll stay on as chairman, the French bank announced Thursday. Bouton, 58, is taking the fall for the bank's failings in the rogue trading affair involving Jérôme Kerviel, a junior stock arbitrager who ultimately cost the bank $7.5 billion in net losses.

Fortune: Saving Société Généraleupdated: Wed Apr 16 2008 09:06:00

In the early afternoon of Sunday, Jan. 20, Daniel Bouton, the chairman and chief executive of the huge French bank Société Générale, was in his 35th-floor office preparing for a board meeting that evening when one of his lieutenants, Jean-Pierre Mustier, came to break some calamitous news. Mustier, Société Générale's head of investment banking, had already alerted him about a 31-year-old junior trader in the stock arbitrage department named Jérôme Kerviel who had been caught making big unhedged bets on European stock futures.

How rogue trader did itupdated: Tue Mar 11 2008 10:47:00

Investment strategist Peter Dunay discusses how one junior employee could have achieved such massive fraud.

Soc.Gen: Lying trader created $7B losses aloneupdated: Wed Feb 20 2008 18:40:00

An interim report issued Wednesday by independent board members of the French bank Societe Generale has concluded that a trader working alone was responsible for amassing trading losses that exceeded $7.2 billion.

Bosses 'condoned' SocGen traderupdated: Fri Feb 15 2008 21:33:00

A lawyer for the French trader accused of massive fraud at Societe Generale said bank bosses "condoned" his client's trades, contradicting bank statements that the trader acted on his own.

SocGen tries to plug capital gapupdated: Mon Feb 11 2008 10:10:00

Societe Generale on Monday launched a heavily discounted €5.5 billion (around $8 billion) rights issue as it attempts to fill a capital gap the French bank says was caused by trader Jerome Kerviel, while also lifting its net profit forecast for 2007.

SocGen trader jailed by courtupdated: Sun Feb 10 2008 20:17:00

Jerome Kerviel, the man at the center of a multi-billion trading scandal will be jailed while the investigation into his alleged fraud is conducted, his lawyer confirmed to CNN Friday.

France urges more suspicion of fraudupdated: Tue Feb 05 2008 01:53:00

A French government report into the massive losses at Societe Generale says banks should have greater suspicion about employee fraud and do a better job of notifying the government when the issue arises.

Fortune: 4 things I learned from Société Généraleupdated: Fri Feb 01 2008 13:14:00

Two weeks after the scandal first broke, we still don't know exactly how Jérôme Kerviel, a lowly 31-year-old trader on the arbitrage desk at French bank Société Générale managed to build a $72 billion position in European stock index futures.

Societe Generale CEOs keep jobs updated: Wed Jan 30 2008 21:37:00

The board of troubled French banking giant Societe Generale said Wednesday that chairman and chief executive Daniel Bouton will stay on despite massive trading losses of more than $7.2 billion.

CNNMoney: SocGen board rejects CEO resignationupdated: Wed Jan 30 2008 10:20:00

The board of troubled French banking giant Societe Generale said Wednesday that Chairman and Chief Executive Daniel Bouton will stay on despite massive trading losses of more than $7.2 billion.

Report: Trader had drawn red flagsupdated: Tue Jan 29 2008 21:56:00

Concerns over the trading carried out by Jerome Kerviel, the trader accused of causing a $7.2 billion loss at Societe Generale, were raised as early as last November, a British newspaper reported Tuesday.

CNNMoney: Prosecutor seeks fraud charge for rogue traderupdated: Tue Jan 29 2008 07:09:00

The French prosecutor who sought charges against trader Jerome Kerviel for a $7.2 billion loss at Societe Generale said Tuesday he plans to appeal a judge's decision to throw out a charge of fraud.

Accused billion-dollar rogue trader charged, freedupdated: Mon Jan 28 2008 18:07:00

Alleged multibillion-dollar rogue trader Jerome Kerviel was freed Monday after French authorities preliminarily charged him with abuse of confidence and illegal access to computers.

CNNMoney: France details charges against rogue traderupdated: Mon Jan 28 2008 15:09:00

French prosecutors said Monday they plan to pursue four charges, including fraud, against the trader who allegedly carried out a $7.2 billion fraud at French banking giant Societe Generale.

'Rogue trader' faces preliminary chargesupdated: Mon Jan 28 2008 14:41:00

French prosecutors announced Monday that they had filed preliminary charges against the rogue trader who allegedly carried out a $7.2 billion fraud at French bank Societe Generale.

French bank details $7.2 billion lossupdated: Sun Jan 27 2008 20:34:00

French bank Societe Generale described Sunday how one of its traders allegedly carried out a $7.2 billion (€4.9 billion) fraud, how the loss came to light and what it is doing to ensure such a case does not recur.

Police quiz accused 'rogue trader'updated: Sat Jan 26 2008 22:57:00

The trader accused of making fraudulent transactions that cost French banking giant Societe Generale €4.9 billion ($7.2 billion) is being questioned in the case, the French national police said Saturday.

Blamed for losing billionsupdated: Sat Jan 26 2008 10:12:00

New details emerge about the rogue trader who cost French bank Societe Generale billions. CNN's Jim Bittermann reports.

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