Saturday, Sep 20, 2014Saturday, Sep 20, 2014
News
 

French court upholds jail sentence for rogue trader Jerome Kerviel

Published on Mar 19, 2014 9:22 PM
 
Jerome Kerviel, former trader of French bank Societe Generale, walks while carrying his backpack in Modena, northern Italy on March 19, 2014. A top French appeals court on Wednesday upheld rogue trader Jerome Kerviel's three-year jail sentence over high-risk trading that cost the Societe Generale bank nearly five billion euros (S$9 billion). -- PHOTO: REUTERS

PARIS (AFP) - A top French appeals court on Wednesday upheld rogue trader Jerome Kerviel's three-year jail sentence over high-risk trading that cost the Societe Generale bank nearly five billion euros (S$9 billion).

But the court cancelled the 4.9 billion euros in damages that Kerviel was ordered to pay, and referred this section of the ex-trader's sentence to another court near Paris to be re-judged.