A trader suspected of losing more than 600 million euros ($751.5 million) in complex derivative trades at French mutual bank Caisse d'Epargne is to be held 24 additional hours, a judicial official said on Thursday.
french traderFrench Court Places Trader in DetentionTopix - Business News Sun, 02/10/2008 - 14:32
"We are cooperating closely with police" A Paris court sent French trader Jerome Kerviel behind bars Friday, while the investigation into billions of euros (dollars) of losses he allegedly caused for bank Societe Generale took a new twist with a second employee taken into custody. Investigators want to know whether Kerviel acted alone, and if so, how it was that a brokerage employee sent him a message before the scandal broke, saying: 'You have done nothing illegal in terms of the law.' |
