Secret recording played at $5.5bn rogue trader hearing

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Convicted rogue trader Jerome Kerviel got to play French judges a covert recording he hopes will unravel years of claims that he was solely responsible for Societe Generale’s $5.5bn trading loss nearly a decade ago.

Bloomberg News reports that on the second day of a trial at the Versailles court of appeals, judges heard 13 extracts of a secret tape made last June by a police officer who led Kerviel probes in 2008 and 2012 and who has voiced concerns about the case.

'Societe Generale knew, they knew', Chantal de Leiris, a former vice-prosecutor on the case, told the police officer, Nathalie Le Roy, according to the recording played in court. 'That’s obvious, obvious'. Kerviel’s lawyer, David Koubbi, grabbed the opportunity to play the recordings in court for the first time since details of their existence leaked out in January.

Kerviel entered the latest trial buoyed by last week’s Paris employment tribunal ruling, which included stinging criticism for Societe Generale.

Hit the link below to access the complete Bloomberg News article:

Kerviel Plays Covert Recording in Bid to Unravel SocGen Case

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