Dominique Strauss-Kahn’s ex-wife is set to recover a Matisse painting returned by Cornelius Gurlitt, the German art collector who for decades hoarded hundreds of works in his Munich apartment and in a house in Salzburg.
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.
Jacques Chirac will stand trial early next year on charges he created fictitious jobs as mayor of Paris, even after the former French president settled civil claims stemming from the affair, his lawyer said.
Jerome Kerviel was sentenced to three years in prison and ordered to repay Societe Generale SA ’s 4.9 billion-euro ($6.8 billion) trading loss by a judge who said the former trader’s actions threatened the bank’s existence.
The trial of Jerome Kerviel, beginning more than two years after Societe Generale SA accused him of losing 4.9 billion euros ($5.8 billion) on unauthorized market bets, may turn on whether the trader can show the bank knew what he was doing.
Banks agreed to pay about $15.5 billion to settle claims by about 720,000 investors outside the U.S. who lost money in Bernard Madoff’s fraud, said the chairman of a group of law firms representing victims.