Societe Generale SA (GLE.FR) Monday maintained the amount of damages that it is seeking from Jerome Kerviel, a former trader for the bank whose bets led to one of the largest-ever trading losses.
During the hearing of an appeal launched by Mr. Kerviel in an effort to overturn his 2010 conviction, Societe Generale upheld that the trader should repay the loss of 4.9 billion euros ($6.09 billion).
At his first trial, Mr. Kerviel unsuccessfully tried a blame-the-bank strategy and received a conviction for fraud which resulted in a three-year prison sentence and a court order to repay the full EUR4.9 billion loss.
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(END) Dow Jones Newswires
June 25, 2012 11:55 ET (15:55 GMT)
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