Société Générale was at the centre of a financial scandal in 2009. The bank denied those accusations. January 2008: Trading loss incident (Kerviel Fraud) On January 24, 2008, the bank announced that a single futures trader at the bank had fraudulently lost the bank €4.9 billion (an equivalent of US$7.2 billion), the largest such loss in history. The company did not name the trader, but other sources identified him as Jérôme Kerviel, a relatively junior futures trader who allegedly orchestrated a series of bogus transactions that spiraled out of control amid turbulent markets in 2007 and early 2008. Partly due to the
Brian Hunter (trader) request. In April 2011, the Federal Energy Regulatory Commission levied the expected $30 million penalty against Hunter, who has challenged the case in court. On March 15, 2013, a U.S. appeals court ruled that FERC acted outside its statutory mandate after all in imposing this fine, since it is the Commodity Futures Trading Commission that has authority over derivatives trading. Brian Hunter (trader) Brian Hunter (born c. 1974) is a Canadian former natural gas trader for the now closed Amaranth Advisors hedge fund. Amaranth had over $9 billion in assets but collapsed in 2006 after Hunter's gamble on natural gas