The assistant of the rogue trader at the centre of
the£3.6bn fraudat French bank Sociétié
Générale has been charged in connection with the fraud, according
to a report from French newswireAgence
France-Presse (AFP).
According to the report, Jerome Kervial's assistant, Thomas
Mougard, was charged on Friday with complicity to introduce false
data into a computer system.
Mougard will remain free pending trial.
The bank said Kervial had used other people's computer passwords
as well as his experience of the controls placed on traders by the
back office to make high-risk trades.
A French police report seen by AFP said Kervial had abused his
bosses' trust and exploited holes in the bank's security
system.
"The scale of the bank's financial prejudice can be explained by
the fraudulent manoeuvres of a trader who... abused the trust of
his hierarchy by taking advantage of its deficiencies and of the
faults in the internal control system," the report concluded.
The Kervial case highlighted the
failure of SocGen's anti-fraud systems and procedures, which
has put at risk billions of pounds and the bank's reputation.