Jerome Kerviel, the former Societe Generale SA banker convicted in one of history’s biggest trading losses, has returned home to serve his three-year sentence after cutting short his crusade against the industry he once served.
Jerome Kerviel, the former Societe Generale SA trader facing prison for a record banking loss, was taken charge of by French police after prosecutors said his failure to turn himself in would have made him a fugitive.
Jerome Kerviel told a Paris court that he sent weekly reports to his Societe Generale SA bosses, bolstering his claims the bank knew about the scale of his trades before they led to a 4.9 billion-euro ($6 billion) loss .
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.
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.