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Article: Societe Generale trader could face multiple preliminary charges of fraud, forgery
- Article from:
- AP Worldstream
- Article date:
- January 28, 2008
- Author:
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A Paris prosecutor on Monday asked for preliminary charges of forgery, breach of trust and fraud against Jerome Kerviel, accused by Societe Generale bank of causing the largest-ever trading fraud by a single person.
The prosecutor, Jean-Claude Marin, also for the first time gave an inkling of what motivated the low-level trader. He said the 31-year-old did not seek personal profit and had not sought to despoil the bank but wanted to be "an exceptional trader" and earn performance bonuses.
"It's always a bit for money, I'm not sure that was his prime motive," said the prosecutor. "It functions a bit like a drug, it's an addiction, ... there's a sort of ...