Moussa Bakir may be re-arrested

Moussa Bakir may be re-arrested

Kerviel E-Mails May Tie Trader to Deals, Lawyers Say (Update1)

By Heather Smith

Feb. 11 (Bloomberg) -- Jerome Kerviel and futures trader Moussa Bakir exchanged messages that show they may have collaborated on bets that led to a record 4.9 billion-euro ($7.2 billion) trading loss at Societe Generale SA, lawyers said.

``It may be in the days to come that Moussa winds up being in the same situation'' as Kerviel, Christopher Mesnooh, a Paris-based lawyer at Hughes Hubbard & Reed, said today. The question is whether Bakir was ``a 50-50 accomplice or something less,'' he said.

Bakir, 32, a trader at Societe Generale's futures brokerage, Fimat, was held for questioning by the financial police for 48 hours before he was released on Feb. 9 as a ``material witness.'' That came after a Paris court ordered Kerviel into custody on Feb. 8 to prevent the tampering of evidence in the probe on how he built a 50 billion-euro position backed by fake hedges. His lawyer plans to appeal the detention.

Message exchanges between the men provided to investigators by Societe Generale, France's second-largest bank, indicate they sought to keep Kerviel's trades a secret. Kerviel passed his trades through Fimat, which merged last month with Credit Agricole SA's futures brokerage to form a new entity, Newedge.

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