French bank president questioned over money-laundering charges
The chairman of one of France's largest banks has been questioned in connection with a probe into an alleged money laundering scheme.
Societe Generale chairman Daniel Bouton and two of the bank's senior executives were taken in for questioning on Monday.
The three were placed under formal investigation - one step short of being charged with a crime.
A bank official says the probe is connection with an alleged money laundering network operating between France and Israel.
"Societe Generale confirms that its chairman, its CEO, and the chief executive of retail banking are being questioned today by the police in connection with an investigation of alleged money laundering," a Societe General spokeswoman said.
"The questioning follows that of several of the bank's managers and those of other banks," she said, adding that questioning continued into the late evening.
Under French law, the three could have been held for up to 48 hours without a warrant, but they were released late on Monday after appearing before Judge Isabelle Prevost-Desprez, judicial and bank officials say.
Six Societe Generale employees have already been placed under formal investigation in the affair.
Bouton is the bank's chairman and chief executive, Philippe Citerne is the bank's chief executive officer - Bouton's right-hand man - and Didier Alix heads the retail banking division.
Investigators believe that checks stolen in France, in amounts that rarely exceeded €2,250 were endorsed by banks in Israel or the Palestinian territories before being honoured by French banks.
French justice officials are concerned that banks failed to take action to report suspicious transactions.
