Updates on the Soc Gen activities
March 18th, 2008 • Related • Filed Under
Société Générale faces fresh embarrassment amid claims by Jérôme Kerviel, the rogue trader who lost €4.9 billion, that colleagues watched as he made unauthorised bets on European stock markets.
Mr Kerviel said he used his manager’s computer to take positions of up to €600 million on occasions.
His manager was present and looking over his shoulder as he did so, the trader told Renaud van Ruymbeke and Francoise Desset, the magistrates leading the inquiry
Mr Kerviel’s comments appear to fly in the face of SocGen’s claims that he was a machiavellian genius who hid his activities from other staff.
An article which is talking about reports/claims relating to the activities in Societe Generale.
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