luisHK
Registered: Sep 2010
Posts: 1028 |
10-26-12 03:05 PM
Well, that's an appeal from the first judgment, hence time passed since the events. Kerviel is still free btw, and he will go to cassation next (another court in french judiciary system).
As of the fine, in France it can also be awarded by the criminal court, which was the case for Kerviel. I should look more precisely into the results of this judgment, but it's supposedly owed to Societe Generale, and after the first judgment Kerviel was also sentenced to pay a similar amount, but Societe generale said it would give up its claims to this money.
As of the mention of BoA and the american justice system, it's actually much tougher than the french system. In France, the worst sentence for white collar crime is 5 year afaik, plus one has often the possibility to remain free until he has exhausted appeal opportunities, which might take years, as is the case for Kerviel.
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