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French bank fires Kerviel assistant

May 28, 2008|From Times Wire Services

French bank Societe Generale fired an assistant to former trader Jerome Kerviel after a report indicated that Kerviel may have had assistance in amassing $78 billion in unauthorized futures positions.

Thomas Mougard, 23, was fired for "professional misconduct," his lawyer said.

Without naming Mougard, Societe Generale said in a report last week that as many as 15% of Kerviel's questionable trades were registered by his assistant.

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