BBC (October 6)
2010/ 10/ 07 by jd in Global News
French rogue trader Jerome Kerviel was sentenced to 3 years in prison and ordered to repay €4.9 billion ($7 billion), the loss he inflicted on employer Societe Generale. Without approval, Kerviel risked €50 billion of SocGen’s money. The BBC reports the impossibility of repayment. “On the basis of his current earnings, Kerviel would need about 180,000 years to reimburse to Societe Generale in full.” SocGen’s spokesman agreed. “There is no question of demanding such sums from one single man.” The Bank is searching for an alternative.
Tags: Kerviel, Rogue trader, SocGen
