Jerome Kerviel’s Trial to Start in Paris
Jerome Kerviel’s Trial to Start in Paris

The life of Jerome Kerviel is much different now, as compared to his earlier days as a big stock broker. He now has a normal job and lives peacefully. He doesn't take any vacations and his life is much different from his earlier days.  

Jerome will go on trial from Tuesday in Paris. He is being accused by Societe Generale SA of risking tens of billions of Euros of its money in trades. This eventually lead to a loss of Euro5 billion (more than $7 billion) in losses for the bank.

When it was discovered, it was the biggest trading fraud in history. But it was soon eclipsed by the fall of Lehman Brothers and the Bernard L. Madoff's multibillion-dollar Ponzi scheme.

But Jerome claims that he is innocent and has also written a book to support his claims. He claims that he is being made a scapegoat of an out-of-control banking system.

The case sent global shock waves and revealed serious lapses in the banking sector when it was discovered. It also increased pressure for better financial regulation by the Government.

After the case was discovered, the bank's Chairman, Daniel Bouton along with some senior executives resigned. Many of Jerome's seniors were also questioned.

His lawyers argue that the bank was familiar with the risks but did not stop him as long as he was making money for the bank.   

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