French Rogue Trader To Go To Prison
It's never the people at the top of the food chain who go to jail.
Via AFP:
A top French appeals court on Wednesday upheld rogue trader Jerome Kerviel's three-year jail sentence over high-risk trading that cost Societe Generale bank nearly five billion euros.
But the court cancelled the 4.9 billion euros ($6.8 billion) that Kerviel was ordered to pay back, referring the issue of damages to another court for a fresh decision.
Kerviel's lawyer Patrice Spinosi had argued in February while appealing the conviction for breach of trust that Societe Generale had committed "wilful misconduct" and was aware of his client's high-risk trading.
The controversial trader ...