May 23, 2008
>The hierarchy of Jerome Kerviel
The hierarchy of Jerome Kerviel, the trader of the General Company on suspicion of forgery which have been losing nearly five billion euros to the French bank, was "failing in its oversight activities" reveals the internal report published Friday.The Inspectorate General of the League General has also noted "evidence of complicity" of an "assistant trader."
Jerome Kerviel, March 18, 2008 when it was released from prison on Health
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"The fraud was facilitated or delayed its detection by weaknesses in the supervision of the trader and device control market activities," says the report.
"The hierarchy of the trader, who was the first level of control, has proved to be defective in overseeing its activities," the document.
Indeed, the immediate supervisor of Mr. Kerviel "has demonstrated a tolerance inappropriate to take positions" unauthorized M. Kerviel on the markets.
According to the report, he "lacked experience of trading and has not been sufficiently box in his new functions".
Regarding the alleged complicity of an assistant, the report notes that "many transactions are fraudulent Jerome Kerviel were seized by the assistant trader."
The Inspectorate General, which also mentions "an electronic message which appears to establish" that this wizard "had knowledge of the result achieved" by M. Kerviel "on its fraudulent transactions."
In addition, the inspectors have not identified confirmed "evidence of diversion from" Jerome Kerviel.
by erectusplus at 10:29 AM |
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