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.
Nick Leeson, the trader whose wrong- way bets on Japanese stocks ruined Barings Plc, is joining a mediation firm to advise Irish borrowers looking to renegotiate debts in the wake of the real estate collapse.
If Jerome Kerviel is convicted next week of causing Societe Generale SA ’s 4.9 billion-euro ($6.5 billion) loss, he won’t face the kind of sentences given to financial felons such as Bernard Madoff -- or even Nick Leeson .
Kweku Adoboli, the trader arrested yesterday on suspicion of fraud at UBS AG, hired lawyers at Kingsley Napley LLP in London to represent him, a spokeswoman for the law firm said today in a phone interview.
Singapore’s new Attorney General Sundaresh Menon took office today as the city state steps up its pursuit of financial misconduct and prepares to further liberalize the legal industry to boost its economy.