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French Societe Generale scandal investigator unsure about rogue trader's accomplices
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13:44, February 02, 2008

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Investigators of the mega financial scandal at Societe Generale said Friday it was too soon to decide whether French rogue trader Jerome Kerviel had any accomplices in his transactions.

According to Jean-Michel Aldebert, head of the Paris prosecutor's office for financial crimes, the investigation underway was looking into whether Kerviel conducted his unauthorized trading with assistance from other bank employees.

He added it was still too soon to say whether there were accomplices.

Kerviel, 31, was accused of making unauthorized transactions and blamed for a record 7.18-billion-U.S. dollar loss in bad debts in one of the biggest frauds in financial history.

Societe Generale said Kerviel did not appear to have profited personally from the transactions and had very possibly worked alone in the fraud.

French investigators are expected to question Societe Generale chairman Daniel Bouton, who offered to resign as the trading crisis unfolded in late January. His resignation was rejected by the board.

Source: Xinhua



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