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Societe Generale seeks new capital after uncovering fraud
Thursday, January 24, 2008 www.hindustantimes.com
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Stock market
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French bank Societe Generale said Thursday that it has uncovered a euro4.9 billion ($7.14 billion) fraud which, combined with a write-down from its subprime exposure, will force it to seek euro5.5 billion ($8.02 billion) in new capital. France's second-largest bank by market value after BNP Paribas SA said it detected a case of "exceptional fraud" at its French markets division on the weekend of
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