SocGen trader Kerviel held for questioning: source
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Police have taken into custody the trader blamed for a $7 billion fraud at French bank Societe Generale, a judicial source said on Saturday.
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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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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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French bank Societe Generale , at the centre of a huge trading scandal, began investigating trades executed by junior trader Jerome Kerviel months before his unauthorized activities were exposed in January, the Financial Times reported.
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A Paris broker was due to appear before  an investigating judge on Saturday as part of a widening probe  into the rogue trading scandal at French bank Societe Generale  , sources close to the inquiry said.
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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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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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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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A man is questioned by French police over his links to the Jerome Kerviel, according to the French media.
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Societe Generale said Sunday that a rogue trader suspected of incurring massive losses at the French bank held positions worth about 50 billion euros (73 billion dollars) when he was uncovered.
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A Paris court on Friday ordered French trader Jerome Kerviel to be jailed while investigations continue into massive losses at bank Societe Generale.
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French police search the apartment of Jerome Kerviel, the man said to be the rogue trader who lost 4.9bn euros.
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Exchange officials warned Societe Generale about Jerome Kerviel's deals late last year, a Paris prosecutor said, piling pressure on the French bank to explain how his rogue trades were not uncovered earlier.
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JÃ©rÃ´me Kerviel, the SociÃ©tÃ© GÃ©nÃ©rale trader accused of losing $7.1 billion in illegal trades, could spend months in a jail while an investigation runs its course.
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A new court battle will be held Monday over the detention of French rogue trader Jerome Kerviel while Societe Generale is to soon launch an eight billion dollar capital increase to cover the losses they blame on him.
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A junior trader blamed for causing a $7 billion loss at French bank Societe Generale has handed himself into the police and is cooperating with their investigation, a prosecution official said on Saturday.
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Societe Generale on Monday launched a 5.5-billion-euro capital increase -- offering shares at a massive discount -- to cover losses it blames on rogue trader Jerome Kerviel who is to fight his detention in jail.