Second SocGen trader arrested

Police to investigate whether worker helped Jerome Kerviel place unauthorised deals.

    Kerviel says his managers knew he was dealing with huge sums of money and turned a blind eye  [AFP]

    Kerviel, 31, has been charged with breach of trust, fabricating documents and illegally accessing computers in a scandal that cost Societe Generale $7.1bn in losses in January.

     

    He is being held in custody and is due to appear in court on Friday to seek temporary release.

    While Kerviel has insisted he acted alone, he has suggested that his managers at the bank knew that he was dealing with huge sums of money and that they turned a blind eye as long as he was making a profit.

    French judges have previously questioned a broker at Fimat, a Societe Generale subsidiary, who is the only other person suspected of having had a hand in the scandal, but he has not been charged.

    SOURCE: Agencies


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