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Author Topic: Jerome Kerviel: Rogue Trader  (Read 1256 times)

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Jerome Kerviel: Rogue Trader
« on: June 08, 2010, 09:14:09 AM »
The alleged "rogue trader" blamed by French bank Societe Generale for 4.9bn euros (then worth £4.3bn) in losses is to go on trial on Tuesday.

Jerome Kerviel is accused of forgery, breach of trust and unauthorised computer use.

Mr Kerviel has been under investigation since SocGen unveiled the losses in 2008, which it blamed on unauthorised deals carried out by him.

The former trader has always maintained the bank knew about the risky deals.

In a book published last month, Mr Kerviel claimed that his superiors turned a blind eye to his trading while he was earning money for the bank, but intervened when he began to lose, he has argued. -bbc

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