Once the poorest, he gained billions, then lost everything
New Delhi. We think about the richest people in the world, so our minds come to our minds like Alan Musk, Mukesh Ambani, Gautam Adani and Jeff Bezos. But have you ever thought who is the poorest person in the world? Usually, on hearing the word ‘beggar’, huts, empty steel bowls and torn clothes come to our mind. At first glance, Jerome may look like an ordinary man walking on the streets of curvial Paris. But his story is not simple! Poverty does not appear at her clothes, food or home, but Jerome Curvial has such a big financial burden that she shook the global market. And eventually, he received the title of “world’s poorest man”.
Who is Jerome Curviel?
In this article, we are talking about Jerome Curviel, who is a French person and is now considered to be the poorest and most debt -ridden person in the world. They have a debt of about ₹ 4.95 lakh crore (about $ 6.7 billion). Being poor does not always mean empty pocket.
In this article, we are talking about Jerome Curviel, who is a French person and is now considered to be the poorest and most debt -ridden person in the world. They have a debt of about ₹ 4.95 lakh crore (about $ 6.7 billion). Being poor does not always mean empty pocket.
Jerome was born on 11 January 1977 in Pont-L’Aabi, a small city in France. Jerome was from an ordinary family. Talking about his personal life, his mother was a hairdresser and his father was a blacksmith. Jerome was a good student. He completed a master’s degree in finance from Lumier University Lyon 2. Soon after completing his studies, he got a job in France’s third largest bank, Society General. In the bank, he worked as a junior derivatives trader. However, his technical information and excellent trading capacity helped him cover millions of deals. He was always part of the bank’s delta one division, which is related to share trading, algorithms and investment.
How to become a trader of Jerome Curvial billions of dollars?
Jerome had widespread knowledge of computer programming and trading systems; However, he misused this knowledge and expertise. Jerome was abusing the weakens in the bank’s internal systems and arbitrators. During this time, he traded billions of dollars using the company’s capital. Initially, he earned great profits, carried out trades of about $ 73 billion in a calendar year.
Jerome had widespread knowledge of computer programming and trading systems; However, he misused this knowledge and expertise. Jerome was abusing the weakens in the bank’s internal systems and arbitrators. During this time, he traded billions of dollars using the company’s capital. Initially, he earned great profits, carried out trades of about $ 73 billion in a calendar year.
What was the scam of Jerome Curvial? How did the world know?
It was observed that the bank was aware of this practice for a very long time, as Jerome used technology to hide every irregularity. However, in 2008 this fraud became clear and investigation began. The scam came to light on 19 January 2008, which surprised the bank and all the people around it. During the investigation, it was found that the bank suffered a loss of about $ 7.2 billion (about ₹ 4,95,000 crore) due to unauthorized trading by Geom, as stated in media reports. This amount became a debt burden against him, which made him one of the poorest people in the world.
It was observed that the bank was aware of this practice for a very long time, as Jerome used technology to hide every irregularity. However, in 2008 this fraud became clear and investigation began. The scam came to light on 19 January 2008, which surprised the bank and all the people around it. During the investigation, it was found that the bank suffered a loss of about $ 7.2 billion (about ₹ 4,95,000 crore) due to unauthorized trading by Geom, as stated in media reports. This amount became a debt burden against him, which made him one of the poorest people in the world.
What order did the court order against him?
According to a report by The Guardian in 2010, 33 -year -old Jerome Curvial was found guilty of betrayal, misuse and forgery. He was sentenced to five years in jail, out of which a sentence of two years was suspended. In a dramatic moment in the courtroom, the judge also ordered him to pay a compensation of € 4.9 billion (about £ 4.2 billion) to the Society General – it was the same amount that the bank lost in January 2008 due to his high -risk trading strategies.After the incident, Jerome was sentenced to three years in jail in 2015. He admitted several allegations including betrayal, fraud and unauthorized access to computer systems. Jerome was released under electronic surveillance after serving a sentence of only five months in 2014.
According to a report by The Guardian in 2010, 33 -year -old Jerome Curvial was found guilty of betrayal, misuse and forgery. He was sentenced to five years in jail, out of which a sentence of two years was suspended. In a dramatic moment in the courtroom, the judge also ordered him to pay a compensation of € 4.9 billion (about £ 4.2 billion) to the Society General – it was the same amount that the bank lost in January 2008 due to his high -risk trading strategies.After the incident, Jerome was sentenced to three years in jail in 2015. He admitted several allegations including betrayal, fraud and unauthorized access to computer systems. Jerome was released under electronic surveillance after serving a sentence of only five months in 2014.
Where are Jerome Curviel now?
His sentence has been completed, but the burden of debt remains even today. After being released from jail, Jeromes are trying to live a simple life, but the burden of debt still makes him one of the poorest people in the world.
