A French trader who was charged with losing over $7 billion in Société Générale’s assets by executing a series of unauthorized and false trades from 2006 to early 2008. When the financial services company discovered that Kerviel has placed tens of billions of dollars' worth of unauthorized trades, they immediately closed out the open positions, most of which were specialized equity arbitrage trades, and contained the extent of fraud. Some of the trades were terminated due to a dwindling market at the time of sale.