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Kerviel: 'ordinary' guy behind France's record rogue trade

Published on Mar 20, 2014 12:39 AM
 

PARIS (AFP) - Jerome Kerviel, who lost his appeal Wednesday against a three-year jail term for his part in France's biggest rogue-trading scandal, casts himself as a simple soul caught up in an orgy of greed.

The 37-year-old was convicted of forgery and breach of trust for gambling away nearly five billion euros ($8.8 billion) in risky deals as a star trader at Societe Generale, one of Europe's biggest banks.

But in Wednesday's ruling, a top French appeals court cancelled the 4.9-billion-euros he had been ordered to pay back, referring the issue to another court.

Branded a crook by his ex-employer and a scapegoat by defenders, Kerviel insisted his bosses knew what he was doing and turned a blind eye to possible breaches of rules as long as he kept the profits rolling in.

 
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