French rogue trader Kerviel to be freed from jail


Court rules that 'rogue trader' who lost his bank nearly five billion euros can be freed on Monday, after serving 100 days of a 3-year term.

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Jérôme Kerviel, the French "rogue trader" who lost one of Europe's biggest banks nearly five billion euros with wildly risky bets, will be freed from jail on Monday, his lawyer said, reports The Local.

The Paris appeals court ruled that the 37-year-old  can be released from a prison just south of the capital and placed under supervision with an electronic bracelet, David Koubbi told journalists.

Kerviel, was convicted after his high-risk trading cost his former employer Société Générale nearly €5 billion and brought one of the biggest banks in Europe to the brink of bankruptcy.

He was originally sentenced to three-years behind bars but will, in the end, only serve around 100 days.

Before being locked up in May Kerviel, 37, had spent two months on a walk from Rome intended to raise awareness of what he regards as the unfair treatment he has received from the courts.

Read more of this report from The Local.

Read Mediapart's coverage of the affair here and here.

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