Fired SocGen trader hits back at bosses for unauthorised bets [Reuters]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
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Source: Reuters
a series of unauthorised bets has criticised his former bosses, saying they were at fault for failing to identify the trades. Kavish Kataria, a former vice president at SocGen in Hong Kong, on Thursday that his job had been terminated with seven days pay and his bonus for the previous year withheld despite, he claimed, making the bank more than $50 million in profit in eight months. "Instead of taking the responsibility of the lapse in their risk system and not identifying the trades at the right time they fired me and terminated my contract," he said. "Just mentioning technical glitch or mentioning they were not aware of the trades done by me is completely incorrect," he added. Kataria said the trades he made were auto booked into a system and reported daily "by the PL control team to all the higher boss in HK as well as in Paris." Report this ad SocGen declined to comment on Kataria's post. Two Hong Kong-based traders at Societe Generale late last year after the bank d
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