Rogue trader costs French bank $7bn !!!

[scooter]

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).

BBC

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[GreyWing]

They described him as "not one of their star traders"

 

[Jrc]

His job wasn't even the complicated, it was to hedge the risk of some other traders, instead he just did something completly different and bet on the day-to-day price changes of the dax and cac.

 

[aZooZaaZooZa is verified member.]

He amassed a huge portfolio of .mobi domains on a futures basis. Ergo death.