Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Kerviel Appeal on SocGen Trading Loss Conviction Opens in Paris

Don't Miss Out —
Follow us on:

June 4 (Bloomberg) -- Jerome Kerviel’s appeal against a guilty verdict holding him solely responsible for Societe Generale SA’s 4.9 billion euro trading loss opened today in Paris.

Kerviel will argue he can’t be held liable for the loss, claiming his former employer knew he was taking positions that exceeded his mandate, and that the bank encouraged him.

Societe Generale announced the trading loss in January 2008. Kerviel was convicted in 2010, sentenced to five years in jail, with two years suspended, and ordered to repay the bank its loss.

The appeal hearings will take place in Paris over three days each week through June 28.

Link to Company News:{GLE FP <Equity> CN <GO>}

To contact the reporter on this story: Heather Smith in Paris at hsmith26@bloomberg.net

To contact the editor responsible for this story: Peter Chapman at pchapman10@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.