$7 Billion Rogue Trader Fraud is Biggest in History

January 25, 2008

“If fraud is proved, the loss will be the biggest caused by a single trader, less than the $1.4 billion loss by trader Nick Leeson that broke British bank Barings, the 1990s $2.6 billion Sumitomo Corp loss in rogue copper trades, eclipsing a $6 billion-plus loss racked up by hedge fund Amaranth trader Brian Hunter and his team in 2006.

read more | digg story

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