Thursday, March 15, 2012

Court Frees Jailed SocGen Trader

A French court Tuesday ordered the release of a Societe Generale trader accused of causing billions in losses through rogue trades.

Jerome Kerviel was expected to leave Paris' La Sante prison later in the day. He has been held there since Feb. 8 pending an investigation into massive and allegedly unauthorized trades.

Prosecutors tried to keep Kerviel, 31, in custody to prevent him from speaking with accomplices _ if he had any. Kerviel maintains that he acted alone. His lawyers argued that Kerviel has cooperated with investigators, has shown no signs of wanting to flee France and could in no way hinder the investigation.

"We were expecting …

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