Recording said to raise questions about SocGen in Kerviel trial

Sony Recorder

Jerome Kerviel’s lawyer says he has obtained evidence that raises fresh questions about whether Societe Generale knew of activities by the former employee that led to a $5.3bn trading loss eight years ago.

Bloomberg News reports that David Koubbi says a covert recording of a senior prosecutor casts doubt on a number of issues regarding SocGen and the handling of the investigation by French authorities. The tape was made last June by Nathalie Le Roy, the police officer who led Kerviel probes in 2008 and 2012, and last year told a French judge about her own misgivings about the case.

'Societe Generale knew, they knew', Chantal de Leiris, a former vice-prosecutor on the case, told Le Roy, according to a transcript of the June 17 conversation read by Koubbi to Bloomberg News. 'That’s obvious, obvious'.

Koubbi says the revelation may feed into the 39-year-old Kerviel’s latest bid to overturn verdicts that have found him exclusively responsible for the record trading loss. The lawyer will ask France’s court of review and reassessment to order a new trial at a closed-door hearing Monday in Paris.

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Kerviel Lawyer Says Recording Raises Questions About SocGen

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