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France Frees Rogue Trader Kerviel

He'll be under 'judicial control' during probe of $8B SocGen loss

By Rob Quinn, Newser Staff

Posted Mar 18, 2008 8:50 AM CDT

(Newser) – Jerome Kerviel, the trader accused of an $8 billion fraud that nearly brought down Societe Generale, has been freed by a Paris court after five weeks in detention, the Guardian reports. The trader, who faces charges including breach of trust and falsifying documents, will remain... Read full story »

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Second SocGen Broker Held in Kerviel Probe

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(NEWSER) - Authorities have taken a second Societe Generale employee into custody and conducted a search of La Defense headquarters, as the probe into unauthorized securities trading that cost the French bank $7.6 billion expands, reports Bloomberg. Police are holding a broker from a bank subsidiary, said a SocGen spokeswoman. Another broker was taken into custody, questioned, and released last month. More»

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(NEWSER) - A trader who brought Societe Generale to the brink of collapse in 2008 has been sentenced to three years in prison and ordered to repay the $6.7 billion his unauthorized trades cost the French bank. Jerome Kerviel, 33, was found guilty of breach of trust and computer hacking and sentenced to 5 years in jail, with two suspended, Bloomberg reports. More»

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France Frees Rogue Trader Kerviel

He'll be under 'judicial control' during probe of $8B SocGen loss

Paris • banking • rogue trader • securities fraud • Societe Generale • Jerome Kerviel

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More Newser Stories

Second SocGen Broker Held in Kerviel Probe

Could derail rogue trader's chances of getting released

SocGen Rogue Trader Guilty; Must Repay $6.7B

Kerviel will serve 3 years in prison in bank meltdown

Rogue UBS Trader Turned Himself In

And that's the only way the bank found him

Rogue UBS Trader Loses $2B

Swiss bank's shares dive after unauthorized trading revealed

SocGen Chief Resigns Amid Growing Outcry

Executive pay scandal, $6.4B fraud fallout push Bouton to quit

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