Former bank trader Jerome Kerviel has been found guilty of all charges by a court in Paris, for his role in one of the world’s biggest trading scandals and one that cost the Societé Générale bank close to five billion euros.
He was found guilty of breach of trust, forgery and abuse of a computer.
The judges ruled that Kerviel had not been given even tacit authority by his bosses to speculate excessively and that the bank’s own shortcomings did not exonerate him from his obligations as a trader.
He has been sentenced to five years in prison, and will serve at least three. It is not clear yet whether he will appeal.