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French rogue trader loses bank €4.9bn

The second-biggest bank in France admitted today it has lost €4.9bn through a junior rogue trader who gambled it away on the world’s markets.

Thu, 24 Jan, 2008 - 12:44

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The second-biggest bank in France admitted today it has lost €4.9bn through a junior rogue trader who gambled it away on the world’s markets.

Societe Generale said the futures trader fooled investors and overstepped his authority.

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