04 November, 2012

Meet the Most Indebted Man in the World - Matthew O'Brien - The Atlantic

Meet the Most Indebted Man in the World - Matthew O'Brien - The Atlantic: He can earn million-dollar gains without anybody knowing. He can execute make-believe trades by sending fake emails from hacked computers. He doesn't always lose money. But when he does, he loses more than $6 billion. He is ... the most indebted man in the world.

Jerome Kerviel is learning one of life's harsher lessons: It stinks to be $6.3 billion in debt. That's how much his fraudulent trades in 2007 and 2008 cost French bank Societe Generale, and how much he has been ordered to pay in restitution -- after he gets out of jail in three years. A judge recently upheld these terms on appeal.

Stay risky, my friends?