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: Securities Law Prof Blog

Societe General Reports Futures Hedging Losses

By Securites Lawprof

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Societe General, France's second largest bank, announced a $7.16 billion write-down due to "massive fraudulent directional positions" by a single trader in charge of futures hedging on European equity market indices. The unnamed trader concealed losses through an elaborate scheme...

Full post as published by Securities Law Prof Blog on January 24, 2008 (boomark / email).

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