New twist in rogue trader scandal

Discussion in 'Wall St. News' started by archon, Apr 24, 2008.

  1. archon


    Two top Eurex investigators described to financial police earlier this month their warnings to Societe Generale in 2007 about unusual deals by rogue trader Jerome Kerviel, a source said Tuesday.

    The head of Eurex's surveillance unit Michael Zollweg and a market analyst spoke to police April 10 regarding deals made by Kerviel, blamed for costing the French bank 4.9 billion euros (7.8 billion dollars) in losses, according to the source who is close to the investigation.

    Confirming a report published in the French weekly L'Express, the source said the two men alerted Societe Generale several times in 2007 about Kerviel's trading behaviour...