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Greenpeace employee fired after losing $6.4 million in failed gamble on currency markets

Published on Jun 15, 2014 10:05 PM
 
A Greenpeace employee has been fired after losing the environmental charity 3.8 million euros (S$6.4 million) in a failed gamble on international currency markets, the group said on Sunday, June 15, 2014. -- PHOTO: AFP

THE HAGUE (AFP) - A Greenpeace employee has been fired after losing the environmental charity 3.8 million euros (S$6.4 million) in a failed gamble on international currency markets, the group said on Sunday.

"Nothing suggests at this point that he acted for personal gain, it seems to be a terrible miscalculation," Greenpeace communications director Mike Townsley told AFP.

The unnamed employee "went above his authority" in agreeing the deal with a broker who was meant to mitigate currency losses for the charity, he said.

"The contract turned out to be a very bad one," Mr Townsley said, adding that an internal investigation is underway.

 
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