`Charge rogue trader`s assistant`

`Charge rogue trader`s assistant`	4.07.2008
FRENCH prosecutors are seeking charges against the assistant of Jerome Kerviel, the Societe Generale rogue trader accused of causing multi-billion euro losses at the bank. The Paris prosecutor`s office has asked investigating judges to charge the assistant, a man in his early 20s whose name has not been released, with complicity to introduce false data into a computer system, according to officials close to the investigation. Judges are not obliged to follow the prosecutor`s recommendations. The assistant has been questioned several times before in connection with the mammoth losses at Societe Generale, as an "assisted witness", a legal status half way between a simple witness and being charged. Kerviel, 31, is the only person currently charged over the biggest rogue trade scandal in banking history. Investigators have been seeking to establish if the trader acted alone - as claimed by his employers - or if he had help inside or outside the bank. One of France`s big three banks, Societe Generale shocked the financial world when it announced in January staggering losses of €4.9 billion ($8.1 billion) at the hands of a rogue trader. The bank incurred the mammoth losses when it was forced to unwind more than €50 billion ($82 billion) of unauthorised deals Kerviel is said to have made. Kerviel turned himself in to police on January 26, two days after the bank revealed the losses, and on January 28 was charged with breach of trust, fabricating documents and illegally accessing computers. Share this article Digg this Post to del.icio.us Post to Newsvine Post to Facebook Add to kwoff
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