2008 Société Générale trading loss the bank's total market capitalization. Bank officials claim that Kerviel tried to conceal the activity by creating losing trades intentionally so as to offset his early gains. According to the BBC, Kerviel generated €1.4 billion in hidden profits by the end of 2007. His employers say they uncovered unauthorized trading traced to Kerviel on January 19, 2008. The bank then closed out these positions over three days of trading beginning January 21, 2008, a period in which the market was experiencing a large drop in equity indices, and losses attributed are estimated at €4.9 billion. The bank claimed Kerviel "had
Alleged Libyan financing in the 2007 French presidential election Alleged Libyan financing in the 2007 French presidential election Alleged Libyan financing in the 2007 French presidential election purportedly took the form of Libya's covert and illicit bankrolling of the presidential campaign of Nicolas Sarkozy with up to €50 million in pay-outs. Sarkozy has denied wrongdoing and rejected suggestions he was a Libyan agent of influence during his tenure as president of France. In May 2007, Nicolas Sarkozy was elected President of France in a six-point victory over Ségolène Royal. Sarkozy officially spent €21 million on his campaign. The size of the campaign spend, relative to those seen in United