SocGen Ex-Trader Kerviel Faces Prison After Losing Appeal
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Jerome Kerviel, the former Societe Generale SA employee convicted for unauthorized transactions leading to one of the biggest trading losses in history, faces prison after a French court rejected his appeal.
The Cour de Cassation, France’s highest appeals court, today rebuffed Kerviel’s efforts to overturn a 2012 verdict that found him guilty of abusing the bank’s trust, faking documents and entering false data into computers that resulted in a 4.9 billion-euro ($6.8 billion) loss.