Messages Show Details of French Traderâs Actions
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Documents suggest that a trader at SociÃ©tÃ© GÃ©nÃ©rale was aware of JÃ©rÃ´me Kervielâs surreptitious trading and that Mr. Kerviel understood the gravity of his actions.
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French police on Friday questioned a share broker over links to rogue trader Jerome Kerviel, whose 4.8 billion euro (7.1 billion dollar) losses nearly brought Societe Generale bank to its knees, justice officials said.
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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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Business & money: JÃ©rÃ´me Kerviel admits hiding his activities but accuses bank colleagues of trading beyond their limits
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French detectives interrogate trader who could have dealt with JÃ©rÃ´me Kerviel
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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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New details about the actions of a former SociÃ©tÃ© GÃ©nÃ©rale trader accused of making billions of dollars of unauthorized bets showed that his losses began in July.
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Employee shareholders at Societe Generale said Wednesday they had started legal action following a multi-billion-euro rogue trader scandal at the French bank.
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New questions emerged about when JÃ©rÃ´me Kervielâs superiors at SociÃ©tÃ© GÃ©nÃ©rale became aware of the scale of his unauthorized trades.
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A look at how Societe General's trading scandal unfolded:
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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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Mesdames, Messieurs, France is now open for business. Nicolas Sarkozy won the French presidency on pledges to open up the economy, and his government is selling one message: Things have changed.
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Societe Generale said Thursday that a single trader was responsible for a massive 4.9 billion euro (7.15 billion dollar) fraud at the French banking giant.
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JÃ©rÃ´me Kerviel told French prosecutors that his fictitious trading started as far back as 2005 â a year earlier than SociÃ©tÃ© GÃ©nÃ©rale has acknowledged.
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Stelios, fondateur de Stelmar Shipping, et Polys envoient un courrier aux actionnaires de Stelmar. Voici le texte d&#39;un courrier rÃ©digÃ© pour le compte de Stelios Haji-Ioannou, fondateur de Stelmar Shipping
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US authorities are probing Societe Generale and events linked to the trading problems that cost the bank $7.19bn.
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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.