World's Biggest Banking Fraud at SocGen in Paris, France
London, UK - 24th January 2008, 22:21 GMT
Dear ATCA Colleagues
[Please note that the views presented by individual contributors
are not necessarily representative of the views of ATCA, which is neutral.
ATCA conducts collective Socratic dialogue on global opportunities and threats.]
. The French banking giant Société Générale
(SocGen) has suffered USD 10 billion of losses, the combination of a world
record USD 7 billion fraud on the part of a single rogue futures trader
in Paris and USD 3 billion in subprime exposure.
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