Former Societe Generale Trader Goes on Trial

2010-06-08 19:52:40 Xinhua Web Editor: Zhang Jin

Trial began Tuesday for a former trader accused of brining losses of 5 billion euros (5.95 billion U.S. dollars) to the French bank Societe Generale SA (SG).

About 50 witnesses were expected to be called in the three-week trial of Jerome Kerviel, who is charged with forgery, breach of trust and unauthorized computer use. Kerviel faces five years in prison as well as a fine of 375,000 euros (448,000 dollars), if convicted.

In addition, his former employer Societe Generale would demand a sum of 4.9 billion euros (5.83 billion dollars) in compensation for damages, SG lawyer Jean Veil told the Sunday paper Le Journal du Dimanche.

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