“Rogue” Trader Highlights Possible 9/11 and 7/7 Insider Trading
The financial meltdown and investigations are leading towards more info about insider trading before 7/7 in britain and 9/11 in the USA.
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According to an article in The London Times today, Société Générale rogue trader Jérôme Kerviel profited enormously on the day of the 7/7 London bombings. He has also revealed how his company made huge profits on September 11th 2001, prompting some to return to questions over insider foreknowledge of both terrorist attacks.
“The best trading day in the history of Société Générale was September 11, 2001,” he said. “At least, that’s what one of my managers told me. It seems that profits were colossal that day.
“I had a similar experience during the London attacks in July 2005.”
A few days earlier he had bet on a fall in the share price of Allianz, the German insurance giant, he told Le Parisien. Everyone was losing money when the 7/7 bombings sent the insurance sector into a downward spiral “except for me”, he said. “Thanks to the positions I had, I earned €500,000 in a few minutes. It was the jackpot. I was jubilant
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Many questions have been raised regarding massive trades that foreshadowed the events of 9/11, with put options placed in large quantities against American and United Airliners in the days immediately prior to the attacks.