Rogue French trader appeals fraud convictionThe Associated Press
PARIS -- The appeal of former trader Jerome Kerviel, sentenced in 2010 for losing (EURO)4.9 billion for his employer Societe Generale, has opened in Paris.
Dressed in a blue suit and white shirt, Kerviel appeared calm as the session opened Monday.
Kerviel was convicted on charges of forgery, breach of trust and unauthorized computer use for covering up bets worth nearly (EURO)50 billion between late 2007 and early 2008. He claims that the bank _ France's second largest _ was aware of his trades.
Societe Generale has said Kerviel acted on his own and that it cost (EURO)4.9 billion _ around $7 billion at the time _ to unwind the trades. Kerviel was ordered to pay that sum back to the bank as part of his sentence.