New Societe Generale Trader Said In Custody
PARIS (AP) — French judicial officials say another trader at Paris bank Societe Generale has been taken in for questioning in connection with a multibillion-dollar trading scandal.
Investigators are trying to determine whether Jerome Kerviel had accomplices. He’s the trader blamed by the bank for unauthorized trades that cost it $7 billion.
A spokeswoman for the bank confirms that investigators searched its offices Wednesday, taking some records and detaining the employee, whose name was not released.
The bank said a preliminary investigation found Kerviel acted alone, but investigators continue searching for others who may have played a role.
Kerviel was taken into custody following the bank’s January disclosure of its massive losses. He faces preliminary charges of forgery, breach of trust and unauthorized computer activity.