Kerviel To Face Trial In Paris

Jerome Kerviel, a former Societe Generale trader, is to face trial for gambling away billions of euros in concealed trades, which led to a loss of 5 billion euros for his bank in January 2008. Perhaps the biggest trading fraud of all times, the whole incident was overshadowed with the onset of the financial crisis.

Ironically, Kerviel now points out the flaws in the banking system as one of the reasons for his debacle. Other reasons include that he ‘got carried away’ and his bank made him the scapegoat. Kerviel's superiors at Societe Generale were also questioned; however they are not in the dock yet.

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