Greenpeace International said that one of its employees lost 3.8 million euros ($5,156,000) on rogue forex trades.
The non-governmental environmental organization said the losses were "a result of a serious error of judgment" by one of its employees in the International Finance Unit in Amsterdam.
"Greenpeace International entered into contracts to buy foreign currency at a fixed exchange rate while the euro was gaining in strength," the press release said. "This resulted in a loss of 3.8 million euros against a range of other currencies."
The employee, who has not been identified, has been fired. He wasn’t a trader, though.
Read more: http://www.businessinsider.com/greenpeace-loses-millions-on-forex-trade-2014-6#ixzz34pw9XOG6