Best Known as: French bank employee of Société Générale who lost $7.1 billion
In January 2008, 31-year-old Jérôme Kerviel, a bank employee at one of the largest banks in Europe, Société Générale, committed fraud, which cost the bank $7.1 billion, the World's largest financial loss ever recorded by a single trader. Kerviel confessed to fraud, but does not seem to have profited from his illegal transactions. Société Générale started legal proceedings against him. Kerviel joined Société Générale in 2000 and worked in the bank’s French risk-management office for several years before moving to the trading desk in Paris.
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