French bank ordered to pay damages to rogue trader

GMT 13:09 2016 Tuesday ,07 June

Arab Today, arab today French bank ordered to pay damages to rogue trader

French bank ordered to pay damages to rogue trader. Société Générale. Jerome Kerviel fired from Société Générale
Paris - Arab Today

A French industrial tribunal on Tuesday ordered the Societe Generale bank to pay 450,000 euros in damages for firing rogue trader Jerome Kerviel -- whose actions almost bankrupted the bank.

A lawyer for Societe Generale, Arnaud Chaulet, said he would appeal the "scandalous" decision, recalling that Kerviel had been found guilty of gambling away 4.9 billion euros ($5.5 billion) of the bank's money.

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