New trader quizzed in French bank fraud probe

Judicial officials said today that a trader at French bank Societe Generale has been taken in for questioning in connection with a multibillion euro fraud scandal.

The bank confirmed that investigators searched its offices on Monday, taking some records and detaining the employee, whose name they declined to provide.

The bank called the search part of “normal proceedings” in the investigation.

Societe Generale announced in January that a lone trader, Jerome Kerviel, had made unauthorised trades which cost it nearly €5bn.