Former Societe Generale trader Jerome Kerviel to stand trial

Posted by admin on Aug 31st, 2009 and filed under Business. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.

Former Societe Generale trader Jerome Kerviel to stand trial Jerome Kerviel is not expected to stand trial until early 2010 Photo: AFP Former Societe Generale trader Jerome Kerviel is to stand trial over accusations that he cost the bank 4.9bn euro (£4.3bn) in trading losses as a result of allegedly rogue, risky transactions. The case of Mr Kerviel, who has claimed that superiors knew of his trades and turned a blind eye while he was making profits for the bank, has been sent to trial in Paris by investigating judges.   Related Articles French trader Jerome Kerviel used clairvoyants to predict future Merrill Lynch investigates '$120m rogue trader' 'Rogue' trader in London's $120m investigation Hard times are back, and so are the fraudsters Sarkozy raps bank chairman No specific date has been set, but the trial is not expected until early 2010. Mr Kerviel, whose life is the inspiration behind a new play to open in the French city of Nice later this month, is charged with forgery, breach of trust and unauthorised computer use.[Read more...]

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