Investigators at Société Générale believe that rogue trader Jérôme Kerviel was aided by an assistant who processed a large number of his transactions during the fraudulent trading spree that cost the bank â,¬4,9-billion. They suspect the accomplice of registering almost 15% of the fictitious trades used by Kerviel to disguise his suspect positions.
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/ 13 February 2008
Lawyers for Jerome Kerviel, the rogue trader blamed by French bank Société Générale for huge losses, lodged an appeal against his detention, the Paris prosecutor’s office said on Wednesday. Kerviel placed a secret wrong-way bet on the share market that Société Générale blames for a -billion trading loss in the world’s biggest rogue trading scandal.