Societe Generale
Societe Generale

Convicted rogue trader Jerome Kerviel has been arrested on returning to France, where he faces a prison term for forgery and breach of trust.

Societe Generale
Societe Generale

Kerviel, 37, caused his bank, Societe Generale, losses of 4.9bn euros (?4.1bn; $6.7bn) in 2008.

He was detained by police after crossing the border on foot from Italy, just ahead of a midnight deadline.

The French presidency has not responded to his request to grant immunity to witnesses who could testify for him.

“I’ve never been on the run, I’ve always fulfilled my responsibilities,” he told reporters as he left the Italian border town of Ventimiglia on foot.

He was arrested in the French border town of Menton and is now due to start a three-year prison term.

Kerviel always maintained that Societe Generale knew what he was doing but turned a blind eye. But in 2010 he was found guilty of forgery, unauthorised computer use and breach of trust.

He spent the last two months walking from Rome to highlight his situation.

Source BBC News


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