Estimated read time: Less than a minute
This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.
PARIS (AP) — 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.
Kerviel sees himself as a victim of a system that turned a blind eye to his trades as long as they made money for the bank, Societe Generale.
Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
