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Did SocGen's Kerviel Have Help?

Société Générale confirms a second suspect in the trading scandal has been taken into custodyan employee of affiliated brokerage Newedge

Did Jérôme Kerviel have help? The Société Générale (SOGN.PA) trading scandal took a new twist Feb. 8 as prosecutors said they were questioning an employee of a SocGen-affiliated brokerage about his "possible complicity" in Kerviel's rogue trades that cost the Paris bank more than $7.1 billion (BusinessWeek.com, 1/24/08).

A SocGen spokeswoman confirmed that an employee of Paris brokerage Newedge, identified by several news outlets as Moussa Bakir, 32, was taken into custody after a Feb. 7 raid on the brokerage's offices on the Champs Elysées. The brokerage, known until last month as Fimat, is a joint venture between SocGen and Calyon, the investment banking arm of French bank Crédit Agricole (CAGR.PA).