Court Puts Societe Generale Trader In Jail

Will Jerome Kerviel remain in custody?

A Paris court sent French trader Jerome Kerviel behind bars Friday, while the investigation into billions of euros (dollars) of losses he allegedly caused for bank Societe Generale took a new twist with a second employee taken into custody.

Investigators want to know whether Kerviel acted alone, and if so, how it was that a brokerage employee sent him a message before the scandal broke, saying: “You have done nothing illegal in terms of the law.”

This is getting repetitive…”no surprise.” Although it still won’t surprise me, I’m waiting to hear that volumes of trading records, emails, and other intra-office communications have mysteriously disappeared.