Trader faces trial over alleged $7B fraud

The French trader accused of a multi-billion-dollar fraud at banking giant Societe Generale will go on trial next year, a lawyer for the bank said Tuesday. Jerome Kerviel will face charges including forgery, breach of trust, and introducing fraudulent data into the bank’s data system, Societe Generale lawyer Jean Veil told CNN. He faces a penalty of up to five years in prison and a fine of up to €375,000 euros ($538,000), Veil said

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