10 Biggest Financial Losers
2. Jerome Kerviel: Lost $7.1 Billion
Jerome Kerviel is infamous as the worst ‘rogue trader’ in history. This Frenchman lost about $7.1 billion in the firm Société Générale. There is an ongoing case against him on accounts of forgery and unauthorized use of computers at the bank and trading loss for breach of trust. Société Générale said that Kerviel had worked on many trades without proper authorization. In his defence, Kerviel says that such practices were common in the firm, indicating top-level involvement in the scam too. Despite these moolah-loaded deals, Kerviel made losses. Apart from serving in prison for about 3 years, Kerviel has been barred from working in any financial institution. Post the aftermath of Société Générale, Kerviel was hired by Lemaire Consultants and Associates.
