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.

Related posts:

  1. UK banking sector changes could create opportunities BBC News A big shake-up of UK banks with taxpayer...
  2. Tesco to buy Northern Rock? The Times Tesco has emerged as a potential bidder for...
  3. Tesco Bank on the way? http://www.finextra.com/fullstory.asp?id=20578 Tesco has changed the name of its personal finance...
  4. New Office for Mac on its way Silicon Microsoft on Thursday said the next version of Office...
  5. Upgrading legato need not be difficult Upgrading legato need not be difficult and should not require...

Related posts brought to you by Yet Another Related Posts Plugin.

Bookmark and Share

Leave a Reply