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Ex-SocGen Chief Bouton Will Testify at Kerviel Criminal Trial

Societe Generale SA’s former Chairman and Chief Executive Officer Daniel Bouton will testify next week at the trial of Jerome Kerviel over the bank’s 4.9 billion-euro ($6 billion) trading loss.

Judge Dominique Pauthe said at a hearing today that Bouton should testify June 22. Societe Generale investors, who joined the criminal trial as civil parties and have the right to seek damages from Kerviel, had requested Bouton’s testimony.

Bouton “will be there,” Societe Generale lawyer Jean Veil told the judge.

Bouton, who called Kerviel a “terrorist,” offered to resign following the Jan. 24, 2008, disclosure of the trading loss and was turned down by the bank’s board. He gave up his chief executive officer title to Frederic Oudea in April of that year following a 5.5 billion-euro capital raising campaign. He stepped down as chairman in 2009.

Kerviel, 33, faces charges of faking documents, abuse of trust, and computer hacking.

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