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Second Banker Freed in French Rogue Trader Probe

Reuters
Thursday, 13 Mar 2008 | 6:37 AM ET

An employee of Societe Generale has been freed by police, the day after he was arrested in connection with a probe into a rogue trading scandal at the bank, the Paris prosecutor's office said.

The prosecutor's office said the employee would not face further questioning.

On Jan. 24, SocGen unveiled 4.9 billion euros ($7.53 billion) of trading losses which it blamed on rogue deals carried out by Jerome Kerviel, a 31-year old junior trader at the bank.

Investigators are trying to see whether Kerviel had any accomplices. SocGen has said Kerviel acted alone.