French court to rule on rogue trader appeal
PARIS The ex-trader who nearly sank one of France's largest banks will find out Wednesday whether he'll have to serve a three-year prison sentence and pay back a staggering 4.9 billion euros ($7 billion) when a court rules on his appeal.
Jerome Kerviel, who is in Italy on a pilgrimage following a meeting with the pope, was convicted in 2010 for committing one of the biggest trading frauds in history. An appeals court upheld the decision in 2012. Kerviel then sought to overturn in France's highest court.
In a radio interview Tuesday, Kerviel said he won't abscond if his appeal is rejected.... read more
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