Trader held in $7-billion fraud
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From Times Wire Reports
Police questioned the trader blamed in a massive fraud that cost France’s Societe Generale bank more than $7 billion.
What may have motivated Jerome Kerviel, 31, remained a mystery, and the bank said it appeared that he made no personal gain from the unauthorized trades.
Judicial officials said Kerviel was taken into custody two days after Societe Generale said he was responsible for one of history’s biggest bank frauds.
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