NEW YORK - The former head of Refco Inc., blamed for the collapse of one of the world's largest commodities brokerages, was sentenced to 16 years in prison Thursday by a judge who decried the "staggeringly arrogant" greed of white collar criminals.
One of France's big three banks, Societe Generale shocked the financial world when it announced in January staggering losses of 4.9 billion euros at the hands of a rogue trader. .. The bank incurred the colossal losses when it was forced to unwind more than 50 billion euros of unauthorised deals Kerviel is said to have made.
Probably not what they meant when they sought "asylum". . .