French magistrates seek end to SocGen trader Kerviel’s case over cover-up


In January 2008, French bank Société Générale announced it had lost 4.9 billion euros through the reckless actions of one of its traders, Jérôme Kerviel, claiming it had been unaware of his high-risk trading. Kerviel, who maintained from the start that his hierarchy knew what he was doing, was tried in 2010 and handed a jail sentence for forgery, fraud and hacking, and was ordered to pay the bank, in damages, the huge sum it lost.

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