Tuesday, October 05, 2010

$6.7 Billion Fine for Trader

Think you have lost a lot of money in the market? How would you like to lose a lot and then get fined billions for doing so. Jerome Kerviel, a former trader with Societe Generale in France, was convicted of trading fraud relating to index futures trading. He is required to pay $6.7 billion in damages along with being sentenced three years in jail. His lawyer said the his client is 'disgusted' by the verdict.

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