Soc Gen rogue trader Kerviel loses appeal

A French court rejected an appeal Wednesday by rogue trader Jérôme Kerviel against the three-year jail term and €4.9 billion fine he got in a fraud case that nearly ruined Société Générale bank.

The Paris court upheld the five-year jail sentence Kerviel got in 2010, two of which were suspended, and confirmed that he was obliged to pay back the billions his gambles cost the bank.

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