According to the good folks at Bloomberg Jerome Kerviel began his fight today against a 2010
conviction for Societe Generale SA (GLE)’s 4.9 billion- euro ($6.2 billion)
trading loss, telling a Paris appeals court that the bank knew about his
actions.
His lawyers said they’ll show judges at the four-week appeal
starting today that the bank knew before the 2008 trading loss that he was
exceeding his mandate with risky bets and can’t claim to be an innocent victim.
“I think that I’m not
responsible for this loss,” Kerviel told judge Mireille Filippini at the start
of the hearing today in response to a question about why he was appealing. “I
always acted with the knowledge” of the bank.
Kerviel’s stance is similar to the defense he used with his
previous legal team when the court held him responsible, sentenced him to three
years in jail and ordered him to repay the loss. Those arguments aren’t likely
to impress the appellate judges, said....
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