PARIS (AP) — A Paris court has convicted former trader Jerome Kerviel guilty of all charges in one of history’s biggest trading frauds, sentencing him to three years in prison and ordering him to repay Societe Generale SA the staggering 4.9 billion ($6.72 billion) that the bank lost.
The 33-year-old former index futures trader stood expressionless as the court pronounced a five-year sentence on Tuesday — with two years suspended.
Kerviel was found guilty on charges of forgery, breach of trust and unauthorized computer use for covering up bets worth nearly 50 billion between late 2007 and early 2008.
He maintained throughout the trial in June that the bank tolerated his massive risk-taking as long as it made money.
