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.
DLA Piper LLP advised Vodafone Group Plc, the world’s second-largest wireless carrier, on its agreement to buy Spanish cable operator Grupo Corporativo Ono SA in a 7.2 billion-euro ($10 billion) transaction.
Jerome Kerviel, the former Societe Generale SA trader convicted for fraudulent transactions that resulted in a record loss at the French bank, has hit the road to draw attention to what he calls the tyranny of finance.
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 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 crimes threatened the bank’s existence.