Greenpeace, the environmental campaign group, has fired an employee after it group discovered he lost some 3.8 million euros ($5.15 million) of its money in a bet on international currency markets.
The group said the losses were a result of a "serious error of judgement" from an employee in the group's international finance unit, who "acted beyond the limits of their authority and without following proper procedures," in a statement on Sunday night.
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"The Greenpeace International Board has ordered a complete independent audit to determine how the incident took place and to improve internal procedures," they added.
"Greenpeace International entered into contracts to buy foreign currency at a fixed exchange rate while the euro was gaining in strength. This resulted in a loss of 3.8 million euros against a range of other currencies," the group said.