Jerome Kerviel (33) will stand trial for his role in Société Générale’s €4.9 billion trading loss in June, a Paris court has said.
Mr Kerviel will face charges of abuse of trust, faking documents and hacking into the bank’s computer system to input false information.
The loss occurred in January 2008 when the bank unwound unauthorised positions he had taken.
Mr Kerviel faces as many as five years in prison and a €375,000 fine if found guilty. He has admitted to covering up his unauthorised bets but says the bank knew what he was doing. – (Bloomberg)
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