SocGen trader gets 3 years for nearly bringing down one bank.

sensibleken

The trader who nearly brought down Societe Generale has been given 3 years jail time for his acts of insider trading and fraud.

Is he kicking himself that he wasn't Irish where he would be let off scott free?

After all the Directors of anglo borrowed money from Anglo to buy shares in Anglo in an attempt to inflate its own share price, shares went south then we have to pay for them.

Should there not a least, the very least be a gardaí investigation

Pookah

He was also ordered to pay back the billions he lost.

That might take a few lifetimes.

Ghost Train

sensibleken wrote: »

Should there not a least, the very least be a gardaí investigation

there is
http://www.breakingnews.ie/ireland/gardai-to-interview-top-financial-executives-in-anglo-investigation-472927.html

sensibleken

Ghost Train wrote: »

there is
http://www.breakingnews.ie/ireland/gardai-to-interview-top-financial-executives-in-anglo-investigation-472927.html

Oh i missed that one. cheers.

thebigbiffo

i believe this dude. i believe he's been made a scapegoat and i do believe his superiors knew he was gambling money they didnt have.

seanie in jail would be a much better win than this poor f'ucker

sensibleken

thebigbiffo wrote: »

i believe this dude. i believe he's been made a scapegoat and i do believe his superiors knew he was gambling money they didnt have.

seanie in jail would be a much better win than this poor f'ucker

Could be one way or the other. Some rogue traders do work alone, or at least if theyre smart will work with people outside the same bank. But then greed never made anyone smart

SeaFields

Lads, lads, lads, in addition to this story don't forget that Iceland is putting its former PM on trial for the mismanagement of the economy.

brandon_flowers

Kerviel should stay away from the horses with his run of luck.

pickarooney

He's not likely to make back the money he lost in prison. He should be given a few billion to play with and a month to win it back, then banned from trading for 10 years. The SG heads that gave him carte blanche to piss away the billions are still working there as far as I know.

ascanbe

Ghost Train wrote: »

there is
http://www.breakingnews.ie/ireland/gardai-to-interview-top-financial-executives-in-anglo-investigation-472927.html

Yeah: 'there is'.