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POPSIsraeli/French BANKS Money Laundering on Grand Scale "Embattled French bank Societe Generale faces fresh troubles Monday when a trial opens in Paris involving a vast money laundering scam between France and Israel. Four banks, including Societe Generale, and 138 people, including the bank's chairman Daniel Bouton, are on trial over the multi-million dollar scam that allegedly began in the late 1990s. The other banks include Societe Marseillaise de Credit, Barclays France and the National Bank of Pakistan. Societe Generale revealed late last month it had lost a staggering 4.8 billion euros (7.1 billion dollars) in the biggest rogue trading scandal in history. Takeover talk is now swirling around France's third largest bank, with two French banks eyeing a possible bid on Societe Generale. " ...AFP
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