Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly


The man who nearly took down the French banking system is on the hook for millennia.

Jérôme Kerviel, the low-level trader whose rogue bets cost Société Générale €4.9 billion ($6.7 billion) in early 2008, was convicted today by a French court and ordered to repay the bank's losses.

At Société Générale, Kerviel earned about €100,000 a year ($137,000), the Journal has reported. At that rate, it would take Kerviel 49,000 years to repay what he owes. That would be a serious display of fortitude for a man Société Générale's co-CEO has called "mentally weak."

Kerviel's lawyer said he would appeal his conviction, and the financial damages are likely to be on hold while an appeal is underway. French media said Kerviel is earning about €2,300 a month as a computer consultant, according to the Associated Press. Repayment rate: Nearly 178,000 years.

Of course, the 33-year-old Kerviel isn't employed at Société Générale. Instead of eyeballing stock indexes at the bank's "Delta One" desk in Paris, he was ordered to prison for three years. Kerviel's conviction today on charges of breach of trust, forgery, and unauthorized computer use also included a lifetime ban on trading.

If Kerviel is freed to work, he'll make at least the French minimum wage of €1,343.77 a month, according to Eurostat. At that pace, it would take Kerviel nearly 304,000 years to repay his fine.


Legal News | Breaking News | Terms & Conditions | Privacy | Law Firm Web Design, Attorney Website Design by Law Promo

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case.
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
San Francisco Trademark Lawyer
San Francisco Copyright Lawyer
www.onulawfirm.com
New Rochelle Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Chicago Business Lawyer
Cook County Contract Law
www.rothlawgroup.com
Canton Criminal Lawyer
Canton DUI lawyer
www.cantoncriminalattorney.com
Surry County Criminal Defense Lawyers
Yadkin County Family Law Attorneys
www.dirussolaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
Houston Car Accident Attorneys
Wrongful Death Attorneys Houston
Houston Wrongful Death
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Eugene Bankruptcy Attorney
Bankruptcy Attorney Eugene
willamettevalleybankruptcy.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Voice
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Law Firm Logos
  Attorney Web Design
  Immigration Law Web Design
  Law Firm Directory