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Traders Have Been Tempted Before

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Traders Have Been Tempted Before

Economy

Traders Have Been Tempted Before

Traders Have Been Tempted Before

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The Societe Generale banking scandal joins a long list of rogue trading cases, from Baring Banks' Nick Leeson in the mid-'90s to a $750 million theft in 2002 by a trader at Ireland's largest bank.

STEVE INSKEEP, host:

And our last word in business is bank fraud. In honor of the big French bank fraud case, we look at some other famous rogue trades.

In 2002, a trader at Ireland's largest bank stole $750 million from his firm to pad his salary, though that's almost too small to count compared to some other cases. An executive in Japan's Daiwa Bank racked up $1.1 billion from unauthorized trades in 1995. And then there's the trader at the hedge fund Amaranth, whose shady deals in natural gas contracts in 2006 cost the firm $6.4 billion. The fund folded.

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