Rogue trader held in French bank scandal
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Police on Saturday questioned the young trader blamed for a massive fraud that cost France's Societe Generale bank more than $7 billion, as the country's president accused global financial institutions of having "gone haywire" and urged common sense.
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The junior trader blamed for causing a $7  billion loss at French bank Societe Generale faced a second day  of questioning by finance police on Sunday.
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The junior trader blamed for causing a $7 billion loss at French bank Societe Generale faced a second day of questioning by finance police on Sunday.
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French police have detained an executive of Total for questioning as part of an investigation into suspected bribes paid to foreign officials by the oil giant, judicial officials said Thursday.
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French police had a second trader in custody Friday in their probe of trades that led to massive losses at bank Soci&#201;t&#201; G&#201;n&#201;rale, the newspaper Le Monde reported
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SociÃ©tÃ© GÃ©nÃ©rale, the French bank that earned the respect of it rivals, is now embarrassed by a 31-year-old rogue trader.
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French bank says family problems and mental fragility led its rogue trader to squander â¬4.9bn
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Societe Generale faces growing  embarrassment after it emerged the French bank was warned last  year about the suspect activities of Jerome Kerviel and its key  fraud accusation against the 31-year-old trader collapsed.
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Online betting firm Unibet says its boss has been detained by police over an alleged breach of French gambling laws.
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French bank Societe Generale faced tough questions on Friday over how it failed to spot the biggest rogue dealing fraud in history, in which a single young trader triggered a $7 billion loss under the noses of top executives.
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A second trader suspected of involvement in the multi-billion dollar losses at Societe Generale bank was taken Saturday for questioning by judges.
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A French court on Friday ordered the detention of rogue trader Jerome Kerviel as the investigation into multi-billion dollar trading losses at Societe Generale bank widened with a second suspect held for questioning.
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A young trader blamed for losses that cost France's Societe Generale more than $7 billion hacked computers and used "several techniques of fraud," the bank said Sunday, as judicial officials said the man would remain in custody a further 24 hours.
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The trader alleged to have cost French Bank Societe General 4.9 billion euros in unauthorised financial deals was being questioned in police custody Saturday, a judicial source said.
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The trader accused of making fraudulent transactions that cost Societe Generale &#8364;4.9 billion ($7.2 billion) hacked computers and used "several techniques of fraud," the French banking giant says.
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Exchange officials questioned deals by Societe Generale trader Jerome Kerviel in November 2007, the Paris prosecutor said on Monday, adding to pressure on the French bank to explain how the trader almost brought it down.
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Societe Generale has uncovered a fraud by one of its traders which will have a 4.9-billion-euro ($7.16 billion) negative impact on the group, France's second-largest listed bank said on Thursday.