SocGen rogue trader loses computer misuse appeal

25.10.2012
Jerome Kerviel, a former trader at Socit Gnrale, who was sentenced to three years in prison in 2010 after being convicted of unauthorised computer use, forgery and breach of trust, has lost his appeal.

The trader, who has an advanced knowledge of IT after having previously worked in Socit Gnrale's IT department, had .

"The appeals courtupholds the ruling," the judge told the rogue trader.

As well as the prison sentence, Kerviel was also told that he would have to pay back the losses incurred by the bank in 2008 - approximately £4 billion.

However, according to the BBC, Socit Gnrale has said that it will not demand the full repayment and it will take into account Kerviel's income and assets when deciding on the amount.

Kerviel's lawyer has said a second appeal against the original ruling may be considered.