Societe Generale is seeking 4.9 billion euros in damages and pocket the interest of his ex-trader. A request which the prosecution requested the release this Friday, during the appeal trial of Jerome Kerviel. This appears since Wednesday whether he should or should not pay the bank the billion claimed.
STORIES & gt; & gt; Kerviel affair: a turning
“Your decision could be given a strong message to banks to avoid that in future such incidents happen again,” said the Advocate General Jean-Marie d’Huy before the court of appeal of Versailles. He believes that the bank has “committed civil wrongs, distinct and different nature of the criminal offenses of Jerome Kerviel, appearing sufficient to cause total loss of its right to claim full compensation for his losses.”
The bankruptcy of the bank’s control mechanisms
In court, Jerome Kerviel, criminally convicted to five years in prison, three farm, embezzlement, repeated his relentless defense line: his ex-employer “knew” and did nothing to stop the fraudulent transactions he spent on the futures market in 2007-2008. He was briefly jailed after his indictment in February 2008, is no longer under electronic bracelet since June 2015.
If after two appeals process, the Supreme Court upheld his conviction in 2014 to prison, she broke the civilian side. This is the reason the current hearing, which must redefine the amount of damages initially awarded to the bank, or utter abandonment. The authority considered that the Societe Generale controls failed.
The former trader, who spent many weeks in the courts, since the beginning of the case in January 2008, was last week its first legal success. The Labour Court of Paris ordered the bank to pay him 455,000 euros of severance pay (he asked 5 billion). The court found that Kerviel had been dismissed “without real cause or serious” and conditions “vexatious”.
STORIES & gt; & gt; Jerome Kerviel and Société Générale industrial tribunal: an ordinary dismissal case
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