Another trader questioned over Soc Gen activities
http://www.businessweek.com/ap/financialnews/D8VCLPFG0.htm
French judges questioned Societe Generale trader Jerome Kerviel alongside his former bosses on Thursday about the massive trading losses the bank blames on him, judicial officials said.
Another trader who had worked with Kerviel was released without charge Thursday after being questioned. The employee of the cash equities desk of SG Securities, the branch of SocGen where Kerviel had worked, was detained Wednesday during a search of the bank’s offices.
Two investigating judges are trying to determine what, if anything, Kerviel’s colleagues and superiors knew about his unauthorized trades, which the bank says cost it more than $7 billion.
There have been developments in the Soc Gen activities, in the meantime business continues at Soc Gen. Do check it out.
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