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Accused Rogue Trader Back in Jail During Investigation


The French trader accused of causing a $7 billion-loss for a major bank is back in custody while officials investigate his actions.

Jerome Kerviel of Societe Generale wagered tens of billions of dollars on stock futures, running up record-breaking losses. He was detained for two days when the affair first came to light, but was allowed out of custody during the investigation.

Prosecutors Friday convinced a judge that Kerviel might flee before a trial.

A second person is being questioned by police in connection with the scandal.

Some information for this report was provided by AFP, AP and Reuters.

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