CL Belgium Reports $100m Trading Fraud
CREDIT Lyonnais Belgium has reported a loss of about 3.5 billion Belgian francs ($100 million) due to treasury trading funds embezzled by a bank employee and her husband.
Daisy Ragolle, a 30-year veteran of the bank and an executive at the its Ghent branch office was arrested, along with her husband, Laurent Demey, on Tuesday, March 11.
Published reports have called this one of the biggest fraud cases in Belgium's banking history. CL Belgium is a subsidiary of Paris-based Credit Lyonnais.
According
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