SocGen trader questioned for second day
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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 on Sunday by finance police, who said he was cooperating with their inquiry.
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Exchange officials warned Societe Generale about rogue trader Jerome Kerviel's deals late last year, a Paris prosecutor said, piling pressure on the French bank to explain why his trades were not discovered sooner.
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French bank Societe Generale faced tough questions on Friday over how it failed to spot the biggest dealing scandal in history in which a lone trader triggered a $7 billion loss under the noses of top executives.
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French police widened an investigation  into a trading scandal at Societe Generale  as a court  prepared to rule on Friday whether Jerome Kerviel, the trader  blamed for huge losses, should be held in custody.
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The trader blamed for a $7 billion fraud  at French bank Societe Generale  is not on the run and  will be questioned at an appropriate moment, the Paris  prosecutors' office said on Saturday.
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The trader accused of costing French bank Societe Generale $7.2 billion (3.7 billion pound) may yet carve out a new career for himself, judging by Thursday's bidding war for interviews with Nick Leeson, who brought down Barings.
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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 Societe Generale, respected daily Le Monde reported.
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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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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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Jerome Kerviel, the trader blamed by Societe Generale for heavy losses, had a trading deficit of 2.2 billion euros ($3.2 billion) as early as June last year, an adviser to his lawyer told Paris Match.
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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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Briton Robert Murat questioned for second successive day over disappearance of four-year-old.
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A look at how Societe General's trading scandal unfolded:
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Jacques Chirac, the former French president, was today being questioned by a judge over a party financing scandal dating back to when he was the mayor of Paris.
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A second trader suspected of involvement in the multi-billion-euro losses at Societe Generale was released Saturday after appearing before French judges probing the affair.
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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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Societe Generale came under mounting pressure on Friday to give a full account of how a rogue trader managed to dupe his supervisors and run up a $7 billion loss.