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Bank Was Warned About Rogue Trader

Prosecutor says Kerviel was after a big bonus with mammoth trades

By Rob Quinn, Newser Staff

Posted Jan 29, 2008 3:19 AM CST

(Newser) – The Eurex stock exchange alerted Société Générale to positions held by Jérôme Kerviel months before the bank discovered his staggering $7 billion fraud, the Independent reports. Kerviel produced fake documents to justify his actions to the bank and was motivated... Read full story »

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Bank Was Warned About Rogue Trader

Prosecutor says Kerviel was after a big bonus with mammoth trades

fraud • France • banking • bank fraud • Jérôme Kerviel • Société Générale

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More Newser Stories

SocGen Trader Charged, Faces 7 Years

Kerviel didn't siphon off a cent, wanted to be 'a stand-out trader'

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

Credit Suisse Cuts Profits $1B on Trader Errors

Trader 'error' prompts bank to take $2.85B writedown; shares plummet

Lawyer: SocGen 'Condoned' Trader's Deals

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

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