2008 Société Générale trading loss 2008 Société Générale trading loss In January 2008, the bank Société Générale lost approximately €4.9 billion closing out positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices. The bank states these positions were fraudulent transactions created by Jérôme Kerviel, a trader with the company. The police stated they lacked evidence to charge him with fraud and charged him with breach of trust and illegally accessing computers. Kerviel states his actions were known to his superiors and that the losses were caused by panic selling by
Kweku Adoboli Kweku Adoboli Kweku Adoboli (born 21 May 1980) is a Ghanaian born British investment manager and former stock trader. He was convicted of illegally trading away US$2 billion (GB£1.3 billion) as a trader for Swiss investment bank UBS. While at the bank he primarily worked on UBS' Global Synthetic Equities Trading team in London where he engaged in what would later be known as the 2011 UBS rogue trader scandal. After serving a prison sentence, he lost several appeals against the Home Office decision to deport him to Ghana. Kweku Adoboli was born on 21 May 1980 in Tema, Ghana,