French trader under investigation

The trader blamed for huge losses at French bank Societe Generale has been placed under formal investigation.

A Paris prosecutor has also asked for preliminary charges of forgery, breach of trust and fraud to be filed against Jerome Kerviel.

The prosecutor said Mr Kerviel hid his trades to make him appear as an "exceptional trader", but he did not mean to damage the bank.

Societe Generale says his actions cost it 4.9bn euros ($7bn; £3.7bn).

Monday,28.January.2008