Jérôme Kerviel to pay Société Générale €1 million for the loss of €4.9 bn

YOAN VALAT

French former Societe Generale rogue trader Jerome Kerviel arrives to fight a civil damages case in Versailles, France, 23 September 2016. Keviel has been sentenced to pay one milion euros to Societe Generale financial services group after they claimed a 4.9 billion euros of losses in 2008.

Jérôme Kerviel to pay Société Générale €1 million for the loss of €4.9 bn


A court in France has ordered the so-called "rogue trader" Jérôme Kerviel to pay his former employer, Société Générale, €1 million, AP reports.

The ruling this Friday is the latest in an eight year long legal battle.

The 39-year old trader is accused of unauthorized trading and forgery that led to the loss of €4.9 bn for his employer in 2008. Société Générale never admitted Kerviel was encouraged to engage in high risk trading.

In October 2010 he was sentenced to three years in prison; ...


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