8 Worst Corporate Scandals in Europe

4. Société Générale Banking Scandal

Up next on this list of 7 worst corporate scandals in Europe is Société Générale Banking Scandal. Compared to Jérôme Kerviel who is the antagonist of our next scandal, Nick Leeson looks like a child. French trader has amounted a loss of €4.9 billion thanks to his actions – and all this during three days of January 2008. You might think that his peers at Société Générale Bank would be happy with his Guinness record trading loss, but they aren’t the ones for media exposure it would seem. Whether they liked it or not, Kerviel has successfully set a record “for the biggest loss ever recorded in the financial industry by a single trader‘. For his illegal actions, he was sentenced five years in prison and was required to repay the entire €4.9 billion he has lost. Needless to say, he didn’t really have that kind of money. Rarely anyone does.

Worst Corporate Scandals in Europe

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