In an interview with AFP, Jerome Kerviel said: "I accept my share of responsibility but I will not be made a scapegoat for Societe Generale."

He said that French move after bank scandal ...
French bank 'had trader warning' ... he never considered "running away" after the bank blamed him for huge trading losses.

Mr Kerviel is accused by prosecutors of breach of trust, falsifying documents and breaching computer security.

Police protection

He was questioned for eight hours on Monday by judges investigating his actions.

They are establishing the strength of the case against him before filing any formal charges.

While not being held in custody, Mr Kerviel is under 24-hour police protection.

Societe Generale accuse him of taking an unauthorised position, or a bet, worth about 50bn euros on the future direction of European shares.

To avoid that potentially catastrophic loss, the bank was forced to close Mr Kerviel's positions, a move that cost the bank 4.9bn euros.

US investigations

Societe Generale is now facing investigations by US authorities.

The US Attorney's Office for the Eastern District of New York has contacted the French bank.

SocGen said it was cooperating with the inquiry but would not give any details.

Separately, the Wall Street Journal reported that market regulators were looking at share sales made by a board member days before the scandal broke.

Share sales

According to the newspaper report, the Securities and Exchange Commission (SEC) is investigating share sales made by board member Robert Day and two foundations associated with him.

The report said that Mr Day and his family's trusts and foundations sold $140m worth of shares two weeks before the bank notified its board about the loss blamed on rogue trader Jerome Kerviel.

The bank has said inside information did not influence these trades.

"Mr Day, like other board members, was not advised of Mr Kerviel's trading losses," the bank said.

(BBC)

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