Rogue trader Kerviel's appeal to be heard next June

The appeal of rogue trader Jérôme Kerviel against his prison sentence for losing the Société Générale bank five billion euros will be heard next June, judicial sources said Monday.

Reuters

Kerviel’s appeal hearing will start on 4 June 2012 and go on to 28 June, every Monday and Wednesday and Thursday afternoons, the sources told news wires.

A year ago the 34-year-old trader was sentenced to three years in prison plus two years suspended and ordered to pay a huge 4.9 billion euros in damages for dodgy deals that rocked the bank to its foundations.

His defence argued that his employers knew what he was doing and encouraged him to take risks until the moment that his losses came to light.