Rogue Trader Jerome Kerviel Loses His Appeal, Faces Prison Time And Huge Fine
Advertisement
Reuters/ Alessandro Bianchi
Advertisement
Kerviel, 37, is currently on a backpacking trek from Rome to Paris.
In 2008, it was revealed that Kerviel lost the French bank approximately 4.9 billion euros ($6.9 billion) through arbitrage of equity derivatives.
He was sentenced in October 2010 to three years in prison and slapped with a fine of 4.9 billion euros, but had appealed for a new trial.
Today, the appeals court in Paris gave the final verdict. He now faces prison time and a massive fine.
Advertisement
AP Images
Advertisement
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market