FRANCE: ‘Rogue trader’ Kerviel says he is scapegoat of financial system
Former trader Jerome Kerviel, sentenced to three years and fined 4.9 billion euros in damages Tuesday for illicit trades that led to huge losses at French bank Societe Generale, said Wednesday that he is a scapegoat of the financial system. Read More
FRANCE: Court finds ‘rogue trader’ Kerviel guilty in fraud trial
A criminal court in Paris has sentenced former Société Générale trader Jérôme Kerviel to five years in jail, including two suspended, and to pay 4.9 billion euros in damages for illicit trading that caused huge losses at the French bank. Read More
FRANCE: SocGen demands €4.9 billion from Kerviel to compensate losses
French bank Société Générale on Wednesday told a Paris court it wants €4.9 billion in compensation from former employee Jérôme Kerviel, who is on trial for alleged illicit trading that cost the bank €5 billion in losses. Read More
FRANCE: Kerviel’s ‘stratospheric’ trades shocked ex-colleague
A former colleague of ex-Societe Generale trader Jerome Kerviel (pictured) accused him in court Thursday of having put the bank at risk with ‘stratospheric’ trades. Kerviel cost the bank 4.9 billion euros in losses in a scandal that rocked France. Read More
FRANCE: Former SocGen boss slams Kerviel for ‘inhuman’ risk-taking
The former head of SocGen’s investment division blamed Jerome Kerviel for unauthorised trades that led to 4.9 billion euros in losses, accusing him of taking “inhuman” risks on the second day of the disgraced trader’s trial. Read More