Rogue Trader Kerveil to Name Names

Posted on Mo 28 Januar 2008 in misc • 1 min read

  • News tags:
  • Economy
  • News meta: _aioseop_keywords: News, Jerome Kerveil, SocGen, France, Banks, Economy dsq_thread_id: '184567710' author:

    Ha! Just as I thought, something does smell fishy in this whole SocGen vs the Rogue Trader thing. I never believed that Jerome Kerveil concocted such an elaborate scheme all by himself. The Daily Mail reports (emphasis mine):

    Executives at Societe Generale had originally insisted that 31-year-old Jerome Kerviel acted alone.

    They compared him to a "lone arsonist who burnt down a big factory".

    But yesterday they conceded that he was unlikely to have carried out his deception without accomplices. And in interviews with detectives, Kerviel was said to be "naming names" and refusing to be a scapegoat.

    What's even more interesting from this article is,

    But Societe Generale has made it clear that Kerviel did not personally benefit from the fraud.

    If he didn't benefit from this elaborate fraud, then who did at SocGen?