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SocGen trader Kerviel is jailed | |
(about 2 hours later) | |
A Paris court has ordered that the Societe Generale trader Jerome Kerviel should be jailed while massive losses at the bank are being investigated. | |
The Paris prosecutor said the trader might abscond if he would be allowed to remain free. | |
Earlier, French media reported that an employee of the brokerage firm Fimat - owned by Societe Generale - had also been detained by French police. | |
The man was questioned about his links to Mr Kerviel. | |
Fimat was a division of Societe Generale, which was recently merged with another brokerage owned by French bank Credit Agricole. | |
Mr Kerviel has been blamed for incurring massive losses, costing the bank 4.9bn euros ($7bn; £3.7bn). | Mr Kerviel has been blamed for incurring massive losses, costing the bank 4.9bn euros ($7bn; £3.7bn). |
He was freed on 28 January following two days of questioning by magistrates. | |
Mr Kerviel is under investigation for breach of trust, computer abuse and falsification, and is currently free under judicial supervision. | Mr Kerviel is under investigation for breach of trust, computer abuse and falsification, and is currently free under judicial supervision. |