a rogue trader is an authorised employee making unauthorised trades on behalf of their employer. it is most often applicable to financial trading, and as such is a term used to describe persons - professional traders - making unapproved financial transactions. this activity is in the grey area between civil and criminal illegality for the reason that the perpetrator is a legitimate employee of a company or institution, yet enters into transactions on behalf of their employer without permission. the most famous rogue trader is nick leeson, whose losses were sufficient to bankrupt barings bank in 1995, but there have been others preceding him, and others who lost more money.

table of largest rogue trader losses

name	losses/gains	institution	market activity	sentence
nick leeson, 1995	£827 million loss	barings bank	nikkei index futures	6.5 years jail
toshihide iguchi, 1995	£557 million loss	resona holdings	us treasury bonds	4 years jail
yasuo hamanaka, 1996	$2.6 billion loss	sumitomo corporation	copper	8 years jail
john rusnak, 2002	£350 million loss	allied irish banks	fx options	7.5 years jail
luke duffy, oct 03 - jan 04	au$360 million loss	national australia bank	fx options	16 months jail
jérôme kerviel, 2006 - 2008	$7.2 billion loss	société générale	european stock index futures	investigation in progress

This article is licensed under the GNU Free Documentation License. It uses material from the wikipedia article Rogue Traders.

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