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SocGen trader Kerviel is jailed SocGen trader Kerviel is jailed
(9 minutes 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. A Paris court has ordered the Societe Generale trader Jerome Kerviel to 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. The Paris prosecutor had argued 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.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.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.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.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.