The crisis at Société Générale deepened yesterday as police raided the French bank and arrested a second trader in connection with the €4.9bn (£3.75bn) losses run up by the rogue trader Jérôme Kerviel, The Times reports.
The 28-year-old trader – already famous for being Mr Kerviel’s last remaining friend on the social networking site Facebook– was detained after detectives had searched his desk in the bank’s trading room at its headquarters outside Paris. He was taken into police custody for questioning and can be held without charge for 48 hours. French media outlets named him as Manuel Zabraniecki. A SocGen spokesman confirmed the police raid and said that investigators had taken away documents. THE GOVERNMENT WILL ISSUE a record amount of gilts this year so that it can transfer the debt for Northern ...
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