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Caisse d'Epargne banker detained over €750m trading loss

Text by AFP

Latest update : 2008-10-29

A trader with French bank Caisse d'Epargne has been detained by French police for questioning after the bank lost 750 million euros in a "trading incident", say officials. He is being held for further questioning until Thursday morning.

French police on Wednesday detained a trader from the Caisse d'Epargne bank for questioning over the loss of 750 million euros in derivatives trading amid this month's market turmoil, officials said. His detention will be prolonged until Thursday morning for further questioning.
  
He was taken into custody as part of a preliminary investigation that seeks to determine whether anyone is criminally liable for the massive losses, racked up at the height of the global finance crisis.

Date created : 2008-10-29

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