SocGen trader not on the run: French prosecutors
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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 by police at an appropriate moment, the Paris prosecutors' office said on Saturday.
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Pressure mounted on Societe Generale on Monday as a prosecutor said rogue trader Jerome Kerviel was questioned about his trades in November, and as investors sued the French bank for insider trading.
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French rogue trader Jerome Kerviel, whose unauthorised deals at Societe Generale cost the bank billions of euros, was taken into custody Friday after a court hearing in Paris, his lawyer said.
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U.S. regulators have not notified Societe Generale  director Robert Day that they are investigating the stock sales he made before the French bank announced billions of dollars in losses by a single trader, Day's spokesman said on Tuesday.
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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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French investigators were set to question accused rogue trader Jerome Kerviel for a third day Monday before deciding whether to release or place him under formal investigation over an alleged seven-billion-dollar fraud at Societe Generale.
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A senior adviser to French President  Nicolas Sarkozy said France remained opposed to any hostile bid  for Societe Generale , the French bank hit by a  trading scandal.
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Could Societe Generale's $7.2 billion loss at the hands of a rogue employee have been prevented?
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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 was warned about alleged rogue trader Jerome Kerviel last year, a prosecutor says.
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A prosecutor calls for the detention of Jerome Kerviel, at the centre of the SocGen rogue trader investigation.
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Lawyers for Jerome Kerviel, the rogue trader blamed by French bank Societe Generale for huge losses, lodged an appeal against his detention, the Paris prosecutor's office said on Wednesday.
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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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Societe Generale is in crisis, France's economy minister said on Tuesday of the bank hit by losses piled up by a rogue trader, questions over its leadership, takeover speculation and a falling stock price.
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The French rogue trader alleged to have cost his bank billions of euros is reported to be in police custody.
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PARIS, Jan. 29 -- The 31-year-old trader accused of causing $7.1 billion in losses at France's Societe Generale bank told police investigators that his financial deals were so big that his bosses had to know about them, according to transcripts published Tuesday on two French Web sites.
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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