$7.1 Billion Fraud - Could Be The Largest Trading Fraud Ever

Never trust a trader who only has 4 friends on facebook.

Boy he really screwed the pooch on that one. LOL!

He was described as "a fragile individual, with no particular genius who was facing family problems." That describes the majority of people I know! Somehow though he weaseled his way into the center of operations.

The big question is was it incompetence (i.e. doubling down to cover earlier losses) or was it sabotage. The press says it was not for personal gain. He made a salary under 150K USD.

Anybody ever read "Ugly Americans" by Ben Mezrich? This reminds me of that. (BTW - he was the guy that wrote "Bringing Down the House")

White Collar Crime exposed by an insider: http://smartstartup.typepad.com/my_weblog/2008/01/business-b...