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From Rogue Trader to Left-Wing Hero

SocGen worker defended by family, strangers, Communists

By Jason Farago, Newser Staff

Posted Jan 27, 2008 7:48 AM CST

(Newser) – For a man who nearly sank one of the largest and most venerable banks in France, rogue trader Jérôme Kerviel has certainly won a lot of support, writes the Observer. In a country that remains weary of so-called "Anglo-Saxon" business models, the... Read full story »

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France • bank fraud • Jérôme Kerviel • Société Générale

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SocGen CEO Resigns Over Rogue Trader

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(NEWSER) - Rogue SocGen trader Jerome Kerviel, whose unauthorized deals led to a $7.2 billion loss for the French bank, continued his trading for more than a year after the first warning flag was raised in the department that was supposed to detect risky trading, reports the Wall Street Journal. Kerviel wrote at least seven bogus emails flagged for anomalies, and his trades tripped 24 alarms over a 14-month period beginning in July 2006, the bank admits in a report released yesterday. More»

Lawyer: SocGen 'Condoned' Trader's Deals

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(NEWSER) - Wounded Société Générale is looking more and more like a takeover target, prompting France's prime minister to jump into the fray today and say the government would defend the country's second-largest bank against hostile raids, the Wall Street Journal reports. With a $7.1 billion loss from fraudulent trades shaking confidence in the bank and its stock price plummeting, some analysts are predicting a breakup, Reuters reports. More»

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From Rogue Trader to Left-Wing Hero

SocGen worker defended by family, strangers, Communists

France • bank fraud • Jérôme Kerviel • Société Générale

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More Newser Stories

SocGen CEO Resigns Over Rogue Trader

Bouton steps down at last; future remains grim for French bank

SocGen: Lax Controls Led to $7.2B Fraud

French bank says 24 internal alarms were ignored over 14 months

Lawyer: SocGen 'Condoned' Trader's Deals

Bank couldn't have missed billions in moves: Kerviel's rep

Trader's Alleged Accomplice Released

Second SocGen worker not charged as bank struggles to stay alive

Breakup Rumors Swirl Around SocGen

Fraud-plagued French bank may be too big for single bidder

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