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Thu, 24 August 2017 17:27:19
French rogue trader's computer seized
31 Jan, 2008 19:05:06
PARIS, Jan 31, 2008 (AFP) - French police have seized a personal computer belonging to rogue trader Jerome Kerviel during a search of his brother's apartment, a judicial official said Thursday.
Police raided Olivier Kerviel's Paris apartment on Wednesday as part of a probe into the trading scandal at Societe Generale that cost the bank 4.8 billion euros (7.1 billion dollars) in losses.

Kerviel, 31, has been charged with falsifying documents and unauthorised computer access but was released on Monday pending the outcome of the investigation.

The junior trader has told investigators during questioning over the weekend that his bosses must have been aware of his dealings because of the profits he was generating.

Kerviel had been an employee at Societe Generale since 2000 when he joined the investment banking department, first as part of the support staff in the middle and back offices.

He moved up to the front office in 2005 and it is there that he began trading futures on European share indices, effectively betting on the future direction of the stock markets.

Societe Generale said that the trader had held positions worth about 50 billion euros when he was caught -- a figure well in excess of the bank's market value of 35.9 billion euros.

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