Rogue trader Jerome Kerviel's appeal against his conviction is thrown out
Jim Armitage is the City editor of The Independent and London Evening Standard group of newspapers. He has been a reporter and editor for more than 20 years and was recently shortlisted for the Press Gazette financial journalist of the year and The Society of Editors financial journalist of the year awards. He contributes news, investigative reports and comment to the Independent titles plus a daily column in the Evening Standard.
Thursday 04 July 2013
The rogue trader who ran up losses of more than £4 billion at Société Général, Jerome Kerviel, today lost an appeal against his conviction.
Kerviel is trying to overturn his conviction and jail sentence, claiming his bosses at the bank knew what he was doing and only turned against him once his trades started losing money in 2008.
Raised in rural Brittany, he claims his humble origins made him a target of discrimination in a dealing room filled with the products of elite families. He has become something of a folk hero in France, and several supporters were outside the court with a banner reading "JK est innocent".
After the employment tribunal's rejection of his plea for a new expert inquiry, he told the waiting fans and media: "I am disappointed, of course. They've refused my demands. We will keep going."
A final ruling could take many months.
Kerviel is admired by many French people for what they see as his fight against the financial system, which remains deeply unpopular.
- 1 Germanwings crash: Police make 'significant discovery' at home of co-pilot Andreas Lubitz
- 3 Zayn Malik already working on solo material, just days after quitting One Direction
- 4 The West has it totally wrong on Lee Kuan Yew
- 5 #FreeTheNipple: Women in Iceland bare breasts in solidarity with trolled student
Nigel Farage brands LGBT activists 'filth' and 'scum' and accuses them of scaring away his children after they invade his local pub
Ukip supporters are 55 or older, white and socially conservative, finds British Social Attitudes Report
JK Rowling responds to fan tweeting she 'can't see' Dumbledore being gay
Russia threatens Denmark with nuclear weapons if it tries to join Nato defence shield
Jeremy Clarkson sacked live: Alan Yentob 'wouldn't rule out' ex Top Gear host's BBC return
Germanwings plane crash live: Andreas Guenter Lubitz intentionally crashed flight 9525 into the Alps in act of mass murder and suicide – latest
iJobs Money & Business
Negotiable: Recruitment Genius: To provide a prompt, friendly and efficient se...
Negotiable: Recruitment Genius: You will be the first point of contact for all...
£18000 - £24000 per annum + benefits: Ashdown Group: HR, Payroll & Benefits Of...
£35000 - £38000 per annum + benefits : Ashdown Group: A highly successful, int...