Societe Generale 'rogue' trader did no wrong - his lawyers - News - CNBC.com
PARIS Thomson Financial - Lawyers for Jerome Kerviel, the trader accused by Societe Generale of massive fraud, said he had "committed no dishonest act, did not siphon off a single cent, and did not profit in any way".
Elisabeth Meyer and Christian Charriere-Bournazel also accused the bank of trying to "create a smokescreen which would divert public attention from losses that were significantly more substantial than those it accumulated in recent months," notably in the midst of the US subprime mortgage crisis.
They went on to accuse Societe Generale of having liquidated with needless haste the positions -- said by the bank to be in the vicinity of 50 bln eur -- that Kerviel had taken.
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