London bombings 'jackpot' for trader Jerome Kerviel
Posted: Thu Jan 31, 2008 6:31 pmLINK
FRENCH rogue trader Jerome Kerviel has told investigators he made his first secret profits in the wake of the July 2005 London bombings, a "jackpot" that put him on the path to multibillion-euro losses for Societe Generale, according to leaked records of his deposition.
"My first experience of this kind goes back to 2005, when I took a position on (German insurance giant) Allianz shares, betting on a drop in the market,'' Mr Kerviel said in comments published in Le Monde newspaper and confirmed as genuine by a judicial offical.
"It happened that shortly afterwards the market fell as a result of the London bombings and it was a jackpot of €500,000 ($838,000).
...
FRENCH rogue trader Jerome Kerviel has told investigators he made his first secret profits in the wake of the July 2005 London bombings, a "jackpot" that put him on the path to multibillion-euro losses for Societe Generale, according to leaked records of his deposition.
"My first experience of this kind goes back to 2005, when I took a position on (German insurance giant) Allianz shares, betting on a drop in the market,'' Mr Kerviel said in comments published in Le Monde newspaper and confirmed as genuine by a judicial offical.
"It happened that shortly afterwards the market fell as a result of the London bombings and it was a jackpot of €500,000 ($838,000).
...