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
Reebok insider trading case Reebok insider trading case The Reebok insider trading case was an insider trading scheme that took place in 2004 and 2005 and involved tips from a Merrill Lynch investment banker, confidential information from Business Week and a grand juror, and trades by individuals in both the United States and Europe. The trades were largely orchestrated by David Pajčin, an ex-Goldman Sachs trader who was subsequently ordered to pay nearly $28 million in fines and judgments by the SEC. David Pajčin was a Croatian trader who met Eugene Plotkin when both were employees of the investment bank Goldman Sachs. In 2004,