Jrme Kerviel Biography

French banker
Best Known as: French bank employee of Socit Gnrale who lost $7.1 billion

In January 2008, 31-year-old Jrme Kerviel, a bank employee at one of the largest banks in Europe, Socit Gnrale, 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. Socit Gnrale started legal proceedings against him. Kerviel joined Socit Gnrale in 2000 and worked in the bank's French risk-management office for several years before moving to the trading desk in Paris.