Thursday, February 21, 2008

SocGen Internal Investigation Report

Here is the report of SocGen's internal investigation to date in the Kerviel affair. It makes frequent use of an abbreviation I don't see often: GEUR, or gigaeuros, an appropriate unit for Kerviel's trading. All of his transactions are detailed, and there is a running chronological tally of his real and "official" profits and losses, as well as of the various queries raised in connection with his dealings. The investigators conclude that he acted alone, with the important caveat that they offer no conclusions as to his relations with his hierarchical superiors in the "front office," whom they were unable to interview because of the ongoing criminal investigation.

1 comment:

Anonymous said...

Hmmmm... what about Moussa Bakir, the back-office guy whose SMSes with Kerviel were already published by Le Nouvel Observateur? I haven't had time to read the whole report (and may not, for a while), but text searches for "moussa", "bakir", and the initials "mb" don't turn up much. (Well, septeMBre, etc., but not much interesting.)