SocGen's rogue trader earns less than 100,000 euros | Deals | Mergers & Acquisitions | Reuters

Societe Generale's rogue trader earns less than 100,000 euros |

Societe Generale's rogue trader earns less than 100,000 euros

PARIS (Reuters) - The trader behind an alleged 4.9 billion euro fraud at Societe Generale is a man in his thirties earning less than 100,000 euros ($146,500) a year, the French bank said on Thursday.

Societe Generale has declined to name the trader for legal reasons.

"He's in his thirties and has been working for Societe Generale since 2002," Chairman Daniel Bouton told reporters at a news conference.

"His salary was slightly below 100,000 euros a year," said Bouton who earlier said he and his deputy Philippe Citerne would give up their own salaries until June.

Bouton gave no further details on the trader and said he did not know where the man was. He said the bank was starting legal action against him.

Asked whether the trader had sought personal gain from his fraud, Jean-Pierre Mustier, head of Societe Generale's investment banking arm, said: "I don't think so."

Then asked whether the trader was acting alone, Mustier said: "I am convinced he was acting alone."

cnn video coverage: