Jérôme Kerviel, the Société
Générale trader accused for the bank’s record trading
loss in January, met yesterday with
& Young and
Touche Tohmatsu to find out about alerts they may have sent to the bank.
The meeting centered around what the auditors knew and told the bank about
exposure to what became €50bn (£40bn) in unauthorised futures positions which
cost Société Générale’s €4.9bn, the International Herald Tribune
The bank’s claims it was unaware of Kerviel’s activities were ‘a smoke
Bernard Benaiem, one of Kerviel’s lawyers, said before the meeting at the
judges leading the investigation. ‘E-mail exchanges from their auditors kept
aware that the trades didn’t exist,’ he said.
Kerviel’s lawyers also planned to inquire about the French banking
findings in the case. The commission fined Société Générale €4m in July for
to comply with rules on internal controls. Kerviel’s legal team has just gained
access to the report, which was not made public.
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