'Trader justice': Ex-SocGen trader fired for risky bets claims he was made a 'scapegoat'

A former Societe Generale trader, Kavish Kataria, claims he was unfairly made a "scapegoat" after being fired for unauthorized risky trades. He alleges that his superiors in Hong Kong and Paris were regularly informed about the trades through daily reports and emails.

Societe Generale has not commented directly on Kataria's accusations but emphasized that their strict control framework identified the trading incident, which did not result in any financial loss. Kataria argues that the bank failed to take responsibility for lapses in their risk system and unjustly terminated his contract.