2012-10-26independent.co.uk

The Paris appeal court today ruled that Mr Kerviel was solely responsible for the €4.9billion loss -- the biggest in trading history -- because he had evaded internal controls to make colossal, one-way bets of up to €50billion on European stock-market futures.

Mr Kerviel, now earning €30,000 a year in a computer company, is expected to seek leave to appeal to France's highest court, the Cour de Cassation. In theory, even if he handed over all his after-tax earnings, it would take him around 300,000 years to repay his losses to SocGen.


Lijit Search

Comments: Be the first to add a comment

add a comment | go to forum thread