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Kerviel Plays Covert Recording in Bid to Unravel SocGen Case

  • ‘Societe Generale knew,’ senior prosecutor says in recording
  • Damages trial focuses on responsibility of Kerviel, SocGen
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Convicted rogue trader Jerome Kerviel got to play French judges a covert recording he hopes will unravel years of claims that he was solely responsible for Societe Generale SA’s 4.9 billion-euro ($5.5 billion) trading loss nearly a decade ago.

On the second day of a trial at the Versailles court of appeals, judges heard 13 extracts of a secret tape made last June by a police officer who led Kerviel probes in 2008 and 2012 and who has voiced concerns about the case.