French bank 'had trader warning'
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Societe Generale was warned about alleged rogue trader Jerome Kerviel last year, a prosecutor says.
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Jerome Kerviel, the rogue trader alleged to have cost his bank billions of euros, is in police custody, reports say.
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FSA warns City on risks The French software developer turned rogue trader who cost French bank SociÃ©tÃ© GÃ©nÃ©rale an estimated â¬4.9bn ($7.2bn) used co-workers' access codes to set up fraudulent transactions.â¦
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A rogue trader who cost France's Societe Generale bank more than $7 billion by making bad stock market bets was taken into custody on Saturday for questioning, judicial officials said.
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The French financial trader at the centre of a massive fraud case gambled around 50bn euros, his employer says.
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A young trader blamed for losses that cost France's Societe Generale more than $7 billion hacked computers and used "several techniques of fraud," the bank said Sunday, as judicial officials said the man would remain in custody a further 24 hours.
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A rogue trader who cost France's Societe Generale bank more than $7 billion by making bad stock market bets had been gambling on a much larger scale, officials said Â tens of billions of dollars of the bank's money.
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France warned foreign banks on  Tuesday not to try to grab control of Societe Generale  , as speculation of a takeover approach by rival BNP  Paribas  drove its shares more than 10 percent higher.
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The French government piled pressure Tuesday on Societe Generale chairman Daniel Bouton over the handling of unauthorised deals by a junior trader which ended in 7.1 billion dollars of losses.
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The French government piled pressure on Societe Generale's chairman Tuesday over multi-billion dollar losses at the bank for which rogue trader Jerome Kerviel was charged.
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Police have taken into custody the trader blamed for a $7 billion fraud at French bank Societe Generale, a judicial source said on Saturday.
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Police on Saturday questioned the young trader blamed for a massive fraud that cost France's Societe Generale bank more than $7 billion, as the country's president accused global financial institutions of having "gone haywire" and urged common sense.
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Exchange officials warned Societe Generale about Jerome Kerviel's deals late last year, a Paris prosecutor said, piling pressure on the French bank to explain how his rogue trades were not uncovered earlier.
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The junior trader blamed for causing a $7 billion loss at French bank Societe Generale faced a second day of questioning by finance police on Sunday.
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The BBC's Alasdair Sandford examines reaction in France to the massive fraud by a Paris-based bank trader.
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Business & money: Bank admits it was warned on more than one occasion amid fierce criticism from shareholders
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French police had a second trader in custody Friday in their probe of trades that led to massive losses at bank Societe Generale, respected daily Le Monde reported.