Societe Generale uncovers $7bn fraud - 24 Jan 08
Europe’s stock markets are going through a volatile time. The affect of this scandal appears to be limited to the bank in question though. Societe General had its shares suspended at one point, after revealing a rogue trader racked-up losses of seven point five billion dollars.Soc-Gen has more than 20 million customers worldwide.. and as Tim Friend reports it’s already under pressure from the global credit crunch.