On Tuesday the lawyer who is representing Jerome Kerviel said that he would go for an appeal against a Paris court's order to sentence the former employee of Societe Generale with five years of imprisonment.

According to media reports, Kerviel had been handed a five year imprisonment sentence and been directed to repay the full amount of four decimal nine billion euros that the bank incurred as loss when the employee traded without authorization.

Kerviel was sentenced based on a guilty verdict with charges of forgery and breach of trust.

The scandal first came out in the open when the bank, in early 2008 shocked share markets with the news of Jerome Kerviel placing fifty billion euros of bets on future of stock markets. The amount was more than the total market capital of the bank at that point in time.

As the bets had to be unwinded hurriedly the bank incurred a loss amounting to four decimal nine billion dollars. In addition to that there was this belief at that time that for unwinding those bets hastily the equity market ,went into a slump, globally.

As a result of the scandal Daniel Bouton the erstwhile CEO of the bank had to resign from the post and gave up the role of the chairman of the bank in 2009.

While Kerviel was being tried for the suit he admitted that he had exceeded his trading limits and he had kept the true size of the bets to himself. He pointed out during the trial that there were many instances when employees had gone for unauthorized trades; it was not an uncommon practice. There was no accusation of Kerviel making profit directly from his trades.

According to Olivier Metzner, the lawyer of Kerviel the judgment made no sense at all and he found the sentence an extraordinary one.