Worst Employee EVER - $7.16B Lost through Fraud

Overnight, French bank Societe Generali announced it was taking a $7.16 billion loss caused by fraudulent trades made by one of its traders. According to the WSJ, the bank said a single trader who had concealed enormous losses through a scheme of "elaborate fictitious transactions."

Because of his actions, it appears the bank won't offer any employees a bonus for 2007. I am sure they are happy with the thief and with management for allowing it to happen.



http://online.wsj.com/article/SB120115814649013033.html?mod=hps_us_whats_news