Keyword: Société Générale

Convicted trader Kerviel says will return to France after all

The trader, 37, who was convicted in 2010, decided to return to France after trek to Rome and is soon expected to start 3-year jail term.

In defence of Jérôme Kerviel

 © Reuters © Reuters

In a dramatic move, the convicted trader Jérôme Kerviel has called on President François Hollande to offer immunity for key witnesses. These witnesses, he says, would throw a very different light on his conviction in 2010 as a “rogue trader” who lost his bank Société Générale almost 5 billion euros. Returning from a long walk to Rome, Kerviel initially said he would not set foot on French soil to start his three-year prison sentence until the president gave his response, but later crossed the border. Here Mediapart's Martine Orange makes an impassioned plea in defence of Kerviel, whom she argues has been deprived of the right of a fair and just trial to which everyone is entitled. For six years, she says, he has come up against a justice system that was blind and deaf to its own considerable shortcomings in the affair.

French trader Jerome Kerviel refuses to go to jail

After Rome walk, convicted trader is refusing to set foot in France until President Hollande responds to plea for immunity for key witnesses.

Former trader Kerviel faces jail as lone walk to France ends

Convicted SocGen trader, returning after a long trek to Rome, has been ordered to attend a French police station where he is set to be jailed.

Key witness who was never heard points to the proof that Société Générale trader Jérôme Kerviel did not act alone


Société Générale employee Jérôme Kerviel met with worldwide notoriety as the so-called 'rogue trader' who lost the bank almost 5 billion euros in reckless trading bets in 2007. He was sentenced to five years in prison – two of them suspended - and a staggering fine of 4.9 billion euros, a sentence upheld after he lost an appeal in October 2012. The bank has consistently claimed that Kerviel acted alone and kept his high-risk bets secret from his superiors. But in this interview with Mediapart, a key witness to Kerviel's appeal case, but who was never called to testify, explains why Kerviel's activities were necessarily known to the bank, which at best turned a blind eye. What's more, he tells Martine Orange, the concrete proof of this is still available in logged and stored data - but not for long.

Gunman attacks French newspaper and bank offices

Paris manhunt launched after a photographer was seriously wounded in attacks on daily Libération and the Societe Generale bank HQ.

The 'taped confession' of Société Générale trader Jérôme Kerviel: mystery of the missing minutes

 © DR © DR

In 2010 the former Société Générale employee  was convicted in relation to a series of trades that cost the bank up to 4.9 billion euros. Last year the ex-trader lost an appeal against his three-year jail sentence. However, the saga continues. On 4th July Kerviel, who has always insisted his bosses knew what he was doing, will take his former employer to an industrial tribunal seeking 4.9 billion euros in damages – equal to the sum he is said to have lost the bank. His lawyer has meanwhile made a formal complaint alleging forgery and use of false documents. In particular the trader’s legal team has highlighted some curious discrepancies in the recordings made when Kerviel was questioned by his bank superiors as his huge losses became clear; recordings that went on to form the basis of the evidence that convicted him. Martine Orange investigates.

Hollande unveils softened French bank reform

Ministers hail it as model for the rest of Europe as critics say it falls short of president's campaign pledge to get tough with financial sector.

SocGen trader Kerviel loses appeal

Former Société Générale trader Jerôme Kerviel, accused of losing the bank almost 5 billion euros, loses appeal against a three-year prison sentence.

SocGen 'rogue' trader Kerviel appeals historic conviction

A Paris court hears appeal by former Société Générale bank 'rogue trader' Jerome Kerviel against his 2010 sentence for causing losses of 5bln euros.

Moody's downgrades French banks

Moody's gives Société Générale and Crédit Agricole their second downgrade in under three months, citing poor funding conditions and debt exposure.

Mail Apologizes To SocGen

The Wall Street Journal analyses the wider story after the Mail on Sunday newspaper apologises for rocking Société Générale with false reports.

Sarkozy abandons holiday as downgrade fears rock France

French President Nicolas Sarkozy cut short his holidays and pledged to pare down debts as fears grew of downgrade in France's triple-A rating.

Société Générale targets likely to be missed after Greek losses

French bank Société Générale said it will not hit its profit target next year after suffering a near €400m writedown on its holding of Greek debt.