SocGen trader questioned for 2nd day over fraud
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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 get a further 24 hours to question trader Jerome Kervel, at the centre of a suspected massive fraud.
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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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French police were set Sunday to continue questioning accused rogue trader Jerome Kerviel, who investigators said wants to explain his role in the seven billion dollar loss at Societe Generale.
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French police on Saturday detained accused rogue trader Jerome Kerviel and investigators said the junior dealer wanted to explain his role in the seven billion dollar loss at Societe Generale.
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The trader at the centre of a massive trading scandal reportedly says Societe Generale must have known of his risk taking.
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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 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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French police questioned a junior trader on Saturday blamed for causing a $7 billion loss at bank Societe Generale after keeping his superiors in the dark for months about thousands of illicit deals.
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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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â¢ 2008: French bank Societe Generale uncovers an alleged $7.14 billion fraud by a futures trader who fooled investors and overstepped his authority.
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France stepped up efforts to restore confidence in the banking system as Societe Generale faced tough questions on Friday over why it failed to prevent the biggest financial dealing scandal in history.
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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, the newspaper Le Monde reported.
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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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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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The French financial trader at the centre of a massive fraud case gambled around 50bn euros, his employer says.
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LONDON/PARIS  - Societe Generale's shock disclosure of a fraud that lost it $7 billion has left investors wondering about a link between the fiasco and Monday's European stock market rout.