Jérôme Kerviel Jérôme Kerviel Jérôme Kerviel (; born 1977) is a French trader who was convicted in the 2008 Société Générale trading loss for breach of trust, forgery and unauthorized use of the bank's computers, resulting in losses valued at €4.9 billion. Société Générale characterizes Kerviel as a rogue trader and claims Kerviel worked these trades alone and without its authorization. These assertions have been met with skepticism by some of Kerviel's former colleagues and acquaintances, as well as by some members of the news media. Kerviel had told investigators that his trading behavior was widespread at the company and that making
2012 JPMorgan Chase trading loss journal reported on further tranche trading activity by the JP Morgan unit two months later. By 2012, heavy opposing bets to his positions had been made by traders, including another branch of JPMorgan, who purchased the derivatives that JPMorgan was selling in high volume. JPMorgan denied the first news reports, with CEO Jamie Dimon calling it a "tempest in a teapot." Major losses of $2 billion were reported by the firm in May 2012 in relation to these trades. On July 13, 2012, the total loss was updated to $5.8 billion with the addition of a $4.4 billion loss in