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Rogue trader sues Société Générale for £4.2 billion

by Daniel Grote on Feb 13, 2013 at 07:30

Rogue trader sues Société Générale for £4.2 billion

Rogue trader Jerome Kerviel is suing his former employer Société Générale for €4.9 billion (£4.2 billion), representing the extent of the losses the bank incurred when unwinding his trades, according to reports.

Kerviel (pictured), who was convicted to three years in jail for forgery and breach of trust in circumventing trading limits, has filed a case in the Paris labour court.

He told RTL radio that he hoped a court analysis would show he wasn't responsible for the losses the bank incurred.

‘I want that figure verified because I believe it is not a Kerviel loss,’ he said.

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