SocGen alleged rogue trader lands new job

Discussion in 'Wall St. News' started by ASusilovic, Apr 27, 2008.

  1. NEW YORK (MarketWatch) -- Jerome Kerviel, the trader accused of causing record losses at his former employer Societe Generale SA, has moved over to information technology in a new job at French software firm LCA, according to reports.

    The manager of LCA, Jean-Raymond Lemaire, told Reuters that Kerviel was being trained for a position, but he declined to comment further.
    In January Societe Generale (FR:013080: news, chart, profile) unveiled losses totaling 4.9 billion euros (about $8 billion), which it blamed on rogue trades conducted by Kerviel, who was a junior derivatives trader.
    In March, Kerviel was released from prison while judges continued to investigate the case after being jailed on Feb. 8. His trial is pending.
    The 31-year-old was being investigated on charges including misuse of a computer, falsifying documents and breach of trust. If convicted, he faces up to five years in prison and 375,000 euros in fines.}&dist=hplatest

    Cool career....:D :cool:
  2. His knowledge should be useful in designing systems that are fraud-proof.
  3. There are no trading failures, only trading comebacks. :D