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French Police Question Second Trader

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[February 08, 2008]  PARIS (AP) -- French police were holding a second person for questioning about the loss of billions at bank Societe Generale, a judicial official said Friday.

The person, who worked at a brokerage partially owned by Societe Generale, was taken into custody on Thursday and was still being held, said the official, who asked not to be identified because of the sensitivity of the case.

Police said they could not comment.

The respected daily Le Monde was the first to report that a second person was in custody for questioning about his relationship with Jerome Kerviel, a futures trader accused by Societe Generale of massive unauthorized bets on European markets that the bank said cost nearly 5 billion euros (more than $7 billion) to unwind.

[Associated Press; By PIERRE-ANTOINE SOUCHARD]

Copyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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