Jerome Kerviel's lawyer on Friday urged judges to acquit the Frenchman of fraud, blaming the bank Societe Generale for the rogue trading scandal that almost destroyed it.The final plea came on the last day of the trial, a day after prosecutors demanded that Kerviel be jailed for four years plus one year suspended, for covert stock trades that the bank says cost it 4.9 billion euros (7.1 billion d
French bank Societe Generale on Wednesday told a court it wants 4.9 billion euros in compensation from former employee Jerome Kerviel after his alleged rogue trading cost it that amount.Kerviel is blamed by Societe Generale, one of Europe's biggest banks, for losing it 4.9 billion euros (7.1 billion dollars at the time) in early 2008 through unauthorised trades.The 33-year-old faces up to five ye
French bank Societe Generale on Wednesday told a court it wants 4.9 billion euros in compensation from former employee Jerome Kerviel after his alleged rogue trading cost it that amount.Kerviel is blamed by Societe Generale, one of Europe's biggest banks, for losing it 4.9 billion euros (7.1 billion dollars at the time) in early 2008 through unauthorised trades.The 33-year-old faces up to five ye
Alleged rogue trader Jerome Kerviel went on trial in Paris on Tuesday accused of unauthorised deals that cost French bank Societe Generale five billion euros.Dressed in a dark suit and purple tie, the 33-year-old replied single, computer consultant and declared a monthly salary of 2,300 euros when asked about his marital status and current occupation as the three-week trial opened. The Frenchma
Former trader Jerome Kerviel goes on trial Tuesday accused of fraud that cost French bank Societe Generale five billion euros -- but insists that his bosses knew what he was up to.The 33-year-old is accused of gambling away 4.9 billion euros (six billion dollars) in risky deals at Societe Generale, one of France's three largest banks, in what was then considered the biggest trading scandal in his
The dollar surged on Friday, overturing its losses in European morning trade, as investors dashed for cover after weaker-than-expected non US employment data, talk of derivative trade problems at French bank Societe Generale, and that Hungary’s economy was in a perilous condition.Non-farm payrolls data showed that 430,000 jobs were created in the US in May, falling short of most forecasts, which