SocGen man makes confession
A former Societe Generale trader admitted he took home printouts of the French bank’s speed-trading code, admitted sharing it with a prospective employer and that it was wrong, an odd twist in the criminal trial over trade secrets theft. The trial of Samarth Agrawal, a citizen of India, is expected to go to the jury in US District Court in New York today. “Frankly, I’m puzzled by the present situation,” Judge Jed Rakoff said. “The defendant has admitted all essential elements of at least the first count of the indictment and probably the second count.”