Word: lakhani
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Dates: during 2000-2009
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...earned a salary of about 100,000 euros (about $147,000). In his new job, he began trading far beyond his responsibilities, racking up debts as global markets gyrated. To cover his losses, he created complex fictitious trades, until the losses appeared to spiral out of control. Said Kinner Lakhani, a London-based analyst for the Dutch bank ABN Amro, who covers Société Générale: "It was out of the realms of anyone's expectation...
...Thomas, an analyst with Keefe, Bruyette & Woods in London. "The single most important factor [in security] is that the risk-control function is independent of traders," Thomas told TIME on Thursday. "You would typically put extra supervision on that person for a couple of years." Said ABN Amro's Lakhani: "This was management's biggest nightmare...
...Arif Lakhani ’07 said he wasn’t sure whether the event taught skills that could make or break a job prospect. But he takes the perception management expert at her word. “She knows better than I do,” he said. “I do know that employers take little things very seriously and only have 30 minutes to evaluate...
...insists that Lakhani is a "significant international arms dealer," but the degree of his apparent gullibility (wouldn't an arms kingpin have known something about suppliers and fake weapons, or at least become suspicious about last-minute negotiators?) immediately led to speculation that the bureau had used a drift net to catch a minnow. Indeed, there is no evidence tying Lakhani to any terrorist group (though he did refer to Americans as "bastards" on an FBI tape), nor is there anything to explain why a man who until three years ago owned a clothing business would have been interested...
While the Lakhani case posed no immediate threat to U.S. security, the situation in Saudi Arabia was clearly imminent and volatile. Following the Saudi announcement, British Airways suspended all flights into the country, and the British and American embassies in Riyadh issued fresh alerts to their nationals. The U.S. message read in part, "There is credible information that terrorists have targeted Western aviation interests in Saudi Arabia...