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Disgraced Kerviel 'goes back to work'

Jerome Kerviel, the trader at Societe Generale who ran up multi-billion losses on the futures markets, has found a new job.

The disgraced Frenchman has taken up a position in the IT sector at the LCA computer consultancy in Paris.

Mr Kerviel is currently on provisional release from prison after being accused by bosses at the bank of perpetrating a $73 billion fraud and causing the firm to suffer $7 billion of losses.

For his part, Mr Kerviel claims that SocGen bosses were aware of his trades - and even encouraged them when he made money for the firm.

Spokesman for the trader, Christophe Reille, defended the decision to go back to work.

"Jerome is a young man…and doesn't want to remain inactive living on unemployment insurance - or whatever," he commented.

Under his current bail conditions, the 32-year-old is barred from entering a trading room or taking part in activities relating to the financial markets.

Speaking to the International Herald Tribune, SocGen lawyer Jean Veil said that he was "delighted" at the news of Mr Kerviel's new job.

"It means he will be in a position to start repaying the bank," he said.