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20.02.2008 - SocGen losses traced to 2005

The first evidence of rogue Man quizzed over trader links ...
Sarkozy and Bruni 'wed in Paris' ...
trades that led to billions of euros of losses at French bank Societe Generale dates back to 2005, internal investigators say.

The bank set up the independent committee to investigate the 4.9bn euros ($7bn; Ј3.7bn) losses.

The Czech Republic news are represented by www.prague-hotel-hotels.com

The bank blames former employee, Jerome Kerviel, for the losses saying he covered up unauthorised trades.

The committee said in their report that they had found no evidence that more than one trader was involved.

Under detention

Mr Kerviel is under "provisional detention" while the case is being investigated.

He is accused of breach of trust, falsifying documents and breaching computer security.

A court ruled that he should be detained because of the "necessities of the investigation" and the risk that he could flee the country.

Mr Kerviel has said that he never considered "running away" after the bank blamed him for huge trading losses.

(BBC)

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