A Société Genérale special committee preliminary report appeared to uphold the initial findings of the bank that trader Jérôme Kerviel acted alone in allegedly perpetrating a â¬4.9bn ($7.2bn) fraud and that a lack of âÂÂcertain controlsâ paved the way for the deception.
The report was published ahead of this morning's final full-year results statement from SG, which confirmed a combination of the fraud and the US financial crisis pushed its corporate and investment banking unit to a â¬2.2bn net loss last year from a â¬2.3bn profit the previous year.
