Greenpeace staffer loses $5.5 million currency trading

The ABC reported:

Greenpeace has fired an employee who lost the environmental charity $5.47 million in a failed gamble on international currency markets.

Greenpeace communications director Mike Townsley said the unnamed employee “went above his authority” in agreeing the deal with a broker who was meant to mitigate currency losses for the charity.

So Greenpeace does play the currency markets – this staffer just went too far.

So $5.5 million of donations flushed down the drain.

Greenpeace, known for its militant anti-drilling campaigns at oil rigs in the Arctic, has a total annual budget of about $432 million.

They are a very large multi-national. That’s a bigger turnover than many of the companies they target

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