Reuters - Rogue trader looks to have lost final battle

Societe Generale

France’s highest court of appeal on Thursday rejected the latest appeal by former rogue trader Jerome Kerviel against his three-year jail sentence for causing a $5.8bn loss to Societe Generale.

Reuters reports that the former trader was sentenced to jail after being convicted by a Paris court in October 2010 for breach of trust and fraud after making massive losses in unauthorized equity derivative trades in 2008.

The judges ruled Kerviel failed to present new facts to justify a fresh investigation. Societe Generale’s lawyer Jean Veil said left Kerviel was left with no further avenues to appeal his criminal conviction.

“Justice has triumphed,” Veil said.

Hit the link below to access the complete Reuters article:

Top French court throws out latest appeal by SocGen rogue trader

Under fire Danske Bank faces fresh money laundering inquiry



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