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Ex-SocGen trader Kerviel gets job at software firm
Fri, Apr 25, 2008
Reuters

PARIS, FRANCE - JEROME Kerviel, the trader accused of causing record losses at French bank Societe Generale, has found a new job at French software company LCA, a director for LCA said.

LCA director David Feldman said on Thursday Kerviel had been working at the company, which is based near Paris, for about two weeks.

'He has been in the building. He's been working with us now for about two weeks,' Mr Feldman said, confirming an earlier article on the website of French magazine Le Point.

On Jan 24, SocGen unveiled 4.9 billion euros (S$10.4 billion) in losses it said were caused by rogue deals carried out by Kerviel, a 31-year old junior trader at the bank.

Kerviel was freed from prison in March after an appeal against his detention, but remains under formal investigation for breach of trust, computer abuse and falsification.

The main manager of LCA is Mr Jean-Raymond Lemaire, an information technology executive who let Kerviel stay with him just after the trading scandal broke.

Mr David Feldman declined further comment on the nature of Kerviel's position at LCA. Le Point said Mr Lemaire also declined to specify the nature of Kerviel's work at his company.

In February, French magazine Paris Match ran an interview with Mr Lemaire, in which Mr Lemaire said he had let Kerviel stay at his family home in Colombes, near Paris.

Kerviel's conditional release from prison set strict limits on his movements and contacts.

Kerviel is barred from entering a trading room or an exchange, may not engage in any activities related to financial markets and has to present himself weekly at a police station.

He cannot leave the Ile-de-France central French region that includes Paris without permission and must surrender his passport and identity card.

He also has to inform investigating magistrates each month where he is staying and cannot meet witnesses or other parties in the case. -- REUTERS

 

 
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