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Former EADS No. 2 in Insider Trading Probe

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Published: Wednesday, 18 Jun 2008 | 5:28 AM ET
By: Reuters

The former number two at EADS, ex-strategy chief Jean-Paul Gut, has been placed under formal investigation in a French probe into suspected insider trading at the Airbus parent company, a judicial source said on Wednesday.

The move comes two weeks after the former co-chief executive of Europe's largest aerospace group, Noel Forgeard, was placed under investigation, a step short of formal charges but which can lead to trial.

Both have denied wrongdoing.

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The former number two at EADS, ex-strategy chief Jean-Paul Gut, has been placed under formal investigation in a French probe into suspected insider trading at the Airbus parent company, a judicial source said on Wednesday.

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