Kerviel says SocGen must have known of his trades
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The man at the center of a trading scandal at Societe Generale said that his activities could not have gone undetected by the French bank.
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Trader blamed for â¬4.9bn loss at SociÃ©tÃ© GÃ©nÃ©rale being questioned, reports say
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The man French authorities were questioning was identified as Moussa Bakir, a broker at SociÃ©tÃ© GÃ©nÃ©raleâs futures brokerage unit.
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Societe Generale said Sunday that a trader who evaded all its controls to bet $73.5 billion Â more than the French bank's market worth Â on European markets hacked computers and "combined several fraudulent methods" to cover his tracks, causing billions in losses.
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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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The announcement cast further doubt on SociÃ©tÃ© GÃ©nÃ©raleâs assertion that the rogue trader, JÃ©rÃ´me Kerviel, acted alone.
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French detectives interrogate trader who could have dealt with JÃ©rÃ´me Kerviel
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The trader at the centre of a massive trading scandal reportedly says the bank must have known of his risk taking.
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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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Exchange officials warned Societe Generale about Jerome Kerviel's deals late last year, a Paris prosecutor said on Monday, piling pressure on the French bank to explain how the junior trader almost brought it down.
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French police on Saturday questioned a junior trader blamed for a $7 billion loss at Societe Generale after keeping his superiors in the dark for months about thousands of illicit deals.
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BNP Paribas confirmed on Thursday that it  was studying a possible bid for Societe Generale, as its fellow  French bank reeled from rogue trading losses and France warned  off would-be foreign bidders.
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In brief remarks to photographers, JÃ©rÃ´me Kerviel said that while he took responsibility for booking billions of euros in fictitious trades, he was âsingled out by SociÃ©tÃ© GÃ©nÃ©rale.
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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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Jerome Kerviel, the rogue trader alleged to have cost his bank billions of euros, is in police custody, reports say.
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Jerome Kerviel, the rogue trader alleged to have cost his bank billions of euros, is police custody, reports say.
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The man at the center of a trading  scandal at Societe Generale said that his activities could not  have gone undetected by the French bank.