Jerome Kerviel 'should be jailed'

25 June 2010

The prosecutor in the Jerome Kerviel trial has called for the former Societe Generale trader to be jailed.

Mr Kerviel stands accused of using around €50 billion ($61 billion) worth of his former firm's money to make unauthorized trades without their knowledge.

His actions eventually cost Societe Generale around €5 billion in losses, but Mr Kerviel's defence is that the bank was aware of what he was doing.

If found guilty of the various charges he faces – which include forgery, breach of trust and unauthorized computer use – Mr Kerviel could go to prison for a maximum term of five years.

Prosecutor Jean-Michel Aldebet has now requested the highest-possible sentence for the former trader in his summing up at the end of the case, but with one year suspended, reports BBC News.

Earlier in the trial, Mr Kerviel claimed that Societe Generale had known he was exceeding daily trading limits "70 per cent of the time", reported Bloomberg.

By Tony Aynsley

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