Thursday, January 24, 2008

More on this one to follow!

Societe Generale uncovers massive fraud: ""French bank Societe Generale said Thursday it has uncovered a 4.9 billion euro ($7.14 billion) fraud -- one of history's biggest -- by a single futures trader whose scheme of fictitious transactions was discovered as stock markets began to stumble in recent days.CEO Daniel Bouton said the trader's motivations were 'irrational,' netting the trader no

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