$7 billion fraud

[the_capitalist]

Fantastic. Will they ever learn???

PARIS - French bank Societe Generale said Thursday it has uncovered a 4.9 billion euro ($7.14 billion) fraud — one of history's biggest — by a single futures trader whose scheme of fictitious transactions was discovered as stock markets began to stumble in recent days.

CEO Daniel Bouton said the trader's motivations were "irrational," netting the trader no personal financial gains. Still, the bank is seeking to have him prosecuted in court.

A person familiar with the case named the trader as Jerome Kerviel. Bank officials said the trader was a Frenchman in his 30s who probably acted alone. The person spoke on condition of anonymity because of the sensitivity of the case.

http://news.yahoo.com/s/ap/20080124/ap_ ... rale_fraud

[NWO_Buster]

Fantastic. Will they ever learn???

PARIS - French bank Societe Generale said Thursday it has uncovered a 4.9 billion euro ($7.14 billion) fraud — one of history's biggest — by a single futures trader whose scheme of fictitious transactions was discovered as stock markets began to stumble in recent days.

CEO Daniel Bouton said the trader's motivations were "irrational," netting the trader no personal financial gains. Still, the bank is seeking to have him prosecuted in court.

A person familiar with the case named the trader as Jerome Kerviel. Bank officials said the trader was a Frenchman in his 30s who probably acted alone. The person spoke on condition of anonymity because of the sensitivity of the case.

http://news.yahoo.com/s/ap/20080124/ap_ ... rale_fraud

This is chickenfeed boy beside the case where the accountants at the Pentagon claimed that they couldn't account for $2.6 trillion. The man at the top of this accounting mess is Dov Zakheim, a dual Israeli/American citizen.Rumsfeld made that quote about missing trillions on
September 10 2001. Just another "coincidence".