Rogue trader Kerviel gets new job

The man accused of losing Société Générale €4.9bn is working as a computer expert

Jérôme Kerviel, the French rogue trader accused of causing €4.9bn (£3.8bn) losses at the bank Société Générale, has got a new job as a computer expert.

Jean-Raymond Lemaire, owner of the French computing consulting firm LCA, confirmed that he had hired Kerviel as a consultant at the start of April. Lemaire had helped the trader find a place to live amid the media frenzy after he was first charged in the case.

A spokesman for Kerviel said he had been working for the firm based outside Paris for about a week. He has been allowed to take up the job because of a judge's change in the terms for his provisional release from prison.

After five weeks in custody, Kerviel, 31, was released on bail on March 18 while investigators examine his role in the biggest bank trading scandal in history.

Société Générale stunned the banking world in January by announcing nearly €5bn in losses caused by closing Kerviel's unauthorised positions. Kerviel claims his bosses were aware of his activities but deliberately turned a blind eye.

Kerviel is facing preliminary charges for breach of trust, forgery and unauthorised computer activity.

He is forbidden from going near trading floors or any place where financial trading takes place. He has given up his passport and must regularly report to police.

If found guilty of breach of trust, Kerviel would face a maximum sentence of three years in prison and a fine of €370,000.

Contributor

Angelique Chrisafis in Paris and agencies

The GuardianTramp

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