Ex-SocGen Trader Kataria Says He Was Fired for Options Bets (2)

A former Hong Kong-based Societe Generale SA trader claimed he was fired and said the French lender should share the blame for failing to detect his wagers.

Kavish Kataria, who left last year after SocGen discovered a batch of risky bets that officials had previously failed to pick up, said the profits and losses on his trades were reported on a daily basis to his higher-ups in Hong Kong as well as in Paris, while a daily email about the trades was also sent to the entire group.

“Instead of taking the responsibility of the lapse in their risk ...