In January, one of the world’s greatest financial scandals rocked France’s banking sector when Jérôme Kerviel, a trader for Société Générale, was accused of blowing 4.9 billions euros in fraudulent operations. How could one man possibly lose so much money and not be noticed before it was too late?

The ongoing inquests will one day shed light on the billion-euro fraud. Currently, details on such scandals are difficult to obtain in the banking environment. All the more when the incident is recent.

FRANCE 24 met a former Wall Street trading star, Joseph Jett. In the 90s, he worked for a large New York firm, Kidder Peabody. Under the admiring peerage of his bosses, he raked in millions of dollars. But his success turned sour in 1994 when he was accused of generating 350 million dollars in fictitious profits. He was fired on the spot.

Fourteen years later, Joe Jett accepted to give his version of his demise in a FRANCE 24 interview. Was he a lone actor? Did his bosses pretend they didn’t know what Jett was doing because their bonuses depended on the firm’s performances?

FRANCE 24 contacted Jett’s former colleagues but many refused to answer our questions. Most of them still work in the banking sector and have close ties with General Electric, the US heavyweight and owner of Kidder Peabody. Those who dared to speak out were unanimous: Jett couldn’t have operated alone, his managers must have known what was going on.

For the last 14 years, Jett has been claiming his innocence. He gives his version of the scandal which ruined him and made him a Wall Street pariah.