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French Trader Will Find Out Soon If He Owes $5.5 Billion
Friday, September 23, 2016 - 9:13am | 370Read More...Jérôme Kerviel, a former trader for the Paris-based bank Société Générale, made headlines in 2008 when he piled up billions of dollars of losses. Kerviel has already been found guilty of forgery, breach of trust and fraudulent computer use when he attempted to hide risky and dubious investments...
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Implications Of Rogue Trader Case Look Very Bad For UBS
Tuesday, September 20, 2011 - 1:41pm | 456Read More...How in the world did Kweku Adoboli, the London based rogue trader, manage to lose $2.3 billion for UBS, without the Swiss bank's risk management systems detecting his unauthorized activity? This is hard to believe, and the implications of this story are devastating for UBS (NYSE: UBS). According...
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Rogue Trader Blows A $2 Billion Hole In UBS's Balance Sheet
Thursday, September 15, 2011 - 12:13pm | 706Read More...Talk about bad news coming at an inopportune time...Swiss banking giant UBS (NYSE: UBS) revealed on Thursday that a rogue trader lost $2 billion for the firm through unauthorized trades. While the loss may not amount to a knockout punch, it is sure to sting the bank, which was already on the ropes...
