2008 Société Générale trading loss a role in the market's overall decline, but characterized that impact as "minimal". 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
Rogue Traders (TV programme) footage is then shown of what occurred afterwards with the trader, which include interviews with customers who had dealing with the trader and who decided to come forth on to the programme about their experience, and with investigators (mainly from Trading Standards) who investigated the trader, and found enough evidence to prosecute them for unethical, aggressive and illegal business conducts. For the latter, where the trader's trial took place, is mentioned by the host, who also states the sentence the trader received as a direct result. On 2 August 2008, a six-part spin-off show was launched called "Rogue Restaurants", where