4.9 bln euro fraud at SocGen
Jan. 24 - French bank Societe Generale uncovers a fraud by one of its traders.
SocGen, France's second-largest listed bank, said the fraud will have a 4.9 billion euro ($7.16 billion) negative impact on the group.
The bank, like many others around the world, has also announced further writedowns due to the global credit crunch.
Joanna Partridge reports.
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