Friday 6 December 2019

Rogue trader Kerviel leaves jail

Former French trader Jerome Kerviel speaks to reporters as he leaves Fleury-Merogis prison, south of Paris (AP)
Former French trader Jerome Kerviel speaks to reporters as he leaves Fleury-Merogis prison, south of Paris (AP)

A Frenchman convicted in one of history's largest trading fraud cases has emerged from a prison south of Paris on conditional release.

Jerome Kerviel will be equipped with an electronic bracelet to monitor his movements.

Kerviel left France's Fleury-Merogis prison, where he was held apart from other inmates, and said he was "super happy" about the release.

He will have freedom of movement on weekends and during the day on weekdays.

Kerviel cost Societe Generale 4.9 billion euro (£3.9 billion) in losses in 2008, just as the global financial crisis was growing.

He claims the bank had quietly welcomed his unauthorised trades when they made money, but turned against him when they turned sour.

Kerviel said he would "fight" to try to prove wrongdoing by the bank.

PA Media

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