Hedged futures on three European stock market indices for French banking colossus Sociéte Générale. In 2006, he made more than 1B for the company before his wagers began to go south. Kerviel took advantage of the timing of market transaction reports to keep his hedges masked from the company, while his losses spiraled. By the time his diversion was found out, in January 2008, he had bet almost 50B of the bank's money -- far more than its market capitalization. Found guilty of breach of trust in October 2010, Kerviel was fined the preposterous amount of 4.9B -- the sum which the bank claimed to have lost on his bets.
[1] UMP.
Father: Charles Kerviel (d. 2006)
Mother: Marie José Kerviel
Wife: (m. circa 2004)
University: BFin, University of Nantes
University: MFin, University Lumière Lyon 2 (2000)
Lemaire Consultants & Associates (2008-)
Société Générale Junior Trader, Futures (2005-08)
Société Générale (2000-05)
Fraud breach of trust, charged Jan-2008, found guilty Oct-2010
Forgery charged Jan-2008, found guilty Oct-2010
Hacking illegal access to computers, charged Jan-2008, found guilty Oct-2010
Inmate Prison de la Santé, Paris, France (2008)
Author of books:
Engrenage: Mémoires d'un Trader (2010, Caught in the System)
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