Rogue trader Jerome Kerviel's appeal against his conviction is thrown out

  • @ArmitageJim


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.