A Paris court on Tuesday freed Jerome Kerviel, the trader accused of causing record losses at French bank Société Générale, pending investigation, his lawyers said. Société Générale unveiled €4,9-billion (,64-billion) of losses in January in the biggest trading scandal in recent history.
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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.