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Article: Investigators take another Societe Generale trader into custody in trading probe
- Article from:
- AP Worldstream
- Article date:
- March 12, 2008
- Author:
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Investigators searched Societe Generale offices, confiscating records and taking another trader into custody Wednesday as they try to determine whether the scandal that cost the venerable French bank billions of euros (dollars) was caused by more than one person.
Societe Generale spokeswoman Laura Schalk confirmed that investigators detained an employee whose name she declined to provide. She called the search part of "normal proceedings of the police investigation."
One trader, Jerome Kerviel, has already been jailed after the bank blamed him for unauthorized trades that cost SocGen nearly 5 billion (more than $7 billion). Kerviel is hoping to get out of jail ...