Trader sues SocGen for $9.4m

Societe General Sign

Former Societe Generale trader Stephane Esper, who faces U.K. charges for rigging a key interest-rate benchmark, is suing the bank at a French employment tribunal for more than $9.4m.

Bloomberg News reports that the civil lawsuit was discussed Monday in Paris but won’t be heard in full until July 30. Esper, who left the bank in 2009, is seeking the money to cover the cost of his legal fees fighting the U.K. charges and other damages.

Esper was among 11 traders who worked at Deutsche Bank, Barclays and Societe Generale charged by the U.K. prosecutors in 2015 for allegedly conspiring to “procure or make submissions” that attempted to manipulate the euro interbank offered rate between 2005 and 2009. A different French court rejected a bid to extradite him to the U.K. to stand trial earlier this year.

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

Ex-SocGen Trader Charged Over Euribor Sues Bank for $9.4 Million

Goldman Sachs to Explore Starting Bitcoin Trading Venture

JefferiesAnd the Best Place to Work in the global financial markets 2017 is...

Register for Financial Markets News Alerts