Ex-EADS chief charged in probe
PARIS, France (AP) — French judges filed preliminary insider trading charges Friday against Noel Forgeard, a former co-chief executive of Airbus parent EADS, his lawyer said.
The investigating judges ordered Forgeard freed after two days in the custody of financial police pending the investigation, lawyer Jean-Alain Michel said.
Investigators are looking into the sale of EADS shares by top executives and shareholders before a June 2006 announcement of delays for the A380 superjumbo that made EADS shares crash 26 percent in one day.
Forgeard has denied wrongdoing.
Forgeard told judges Xaviere Simeoni and Cecile Pendaries during questioning that he had not committed insider trading and that to his knowledge neither had any other EADS executives, his lawyer said.
Preliminary charges under French law mean the investigating judges have strong reason to suspect involvement in a crime, giving them more time to investigate. Judges decide later whether or not there is enough evidence for a trial.
These charges do not mean an element of guilt, Michel said.
