French court releases SocGen rogue trader

Analysis

A French court ordered the release of a rogue trader accused of a massive fraud at Societe Generale pending investigations on a multi-billion-dollar scandal.

Jerome Kerviel, suspected of having engineered rogue deals involving a massive €4.9 billion ($7.3 billion) at Societe Generale, was detained by police for questioning on February 8.

The French bank unveiled in January losses of multi-billion euros and blamed it on Kerviel, a junior trader who had worked there since 2000.

Financial police were trying to find out whether Kerviel had any accomplices in his illegal dealings.

Kerviel was charged with breach of trust, fabricating documents and illegally accessing computers. (Xinhua)

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