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I read today that Jerome Kerviel had been playing around with $73.31 Billion of other people's money. I can not imagine anyone anywhere being able to pull such a thing ...
  1. 01-26-2008 #1
    cousinlucky
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    How Did Jerome Kerviel get to play with $73.31 Billion of other people's money??

    I read today that Jerome Kerviel had been playing around with $73.31 Billion of other people's money. I can not imagine anyone anywhere being able to pull such a thing off.

    Did he have help from some criminal organization?
    Did he do it all through a computer?

    Does anyone here at LinuxForums have the whole story about this? Thanks!!
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  2. 01-26-2008 #2
    elija
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    It was 3.6 billion pounds which would only be about 7.3 billion dollars.

    Linky
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  3. 01-26-2008 #3
    cousinlucky
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    It was here:

    $7B bank loss might've been worse

    that I read that.
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  4. 01-26-2008 #4
    MikeTbob
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    I read somewhere that those figures were highly inflated, in other words, he "caused more damage" than the bank was actually worth.
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  5. 01-27-2008 #5
    cousinlucky
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    I found a more detailed link here:

    Excite News - French Bank Accuses Trader of Hacking
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  6. 01-27-2008 #6
    fingal
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    This BBC article is also worth a read. I wonder if he's really guilty? Either way, the French banking system seems to have a few holes in it!
    I am always doing that which I can not do, in order that I may learn how to do it. - Pablo Picasso
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  7. 01-27-2008 #7
    cousinlucky
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    Thank You, Fingal for the link.

    Every week I hear horror stories from friends and relatives working in the finacial services industries. The banks and finacial institutions on this side of the pond are in very bad shape despite their attempts to " look okay ".
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  8. 01-27-2008 #8
    MikeTbob
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    Quote Originally Posted by fingal View Post
    This BBC article is also worth a read. I wonder if he's really guilty? Either way, the French banking system seems to have a few holes in it!
    Yeah, about 73.31 billion holes to be exact!
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  9. 01-29-2008 #9
    cousinlucky
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    If I were a rich person I would be very worried about someone " electronically " stealing my entire fortune.

    How hard would it be to create a virus for a Windows os and download it into your banks computer system and record every online transaction that takes place so that you could clean out as many accounts as possible over a holiday weekend.

    This stuff is scary!!
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  10. 01-29-2008 #10
    MikeTbob
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    Quote Originally Posted by cousinlucky View Post
    If I were a rich person I would be very worried about someone " electronically " stealing my entire fortune.

    How hard would it be to create a virus for a Windows os and download it into your banks computer system and record every online transaction that takes place so that you could clean out as many accounts as possible over a holiday weekend.

    This stuff is scary!!
    This guy just showed you how hard it is, and I don't think he had a hard time doing this but the good news is, he got caught, like almost all the big money thieves. The problem with a Major Heist like this, no matter where/how you send the money, you leave a trail.
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