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| Version 1 | Version 2 |
|---|---|
| Prison term demanded for Kerviel | Prison term demanded for Kerviel |
| (about 4 hours later) | |
| Mr Kerviel faces four years in jail if convicted | Mr Kerviel faces four years in jail if convicted |
| The prosecutor in the trial of Jerome Kerviel has called for the former Societe Generale trader to spend four years in prison, if convicted. | |
| Mr Kerviel is standing trial over allegations that he bet 50bn euros ($61bn; £41bn) of SocGen's money without the bank's knowledge. | Mr Kerviel is standing trial over allegations that he bet 50bn euros ($61bn; £41bn) of SocGen's money without the bank's knowledge. |
| The bank says his actions cost it around 5bn euros. | The bank says his actions cost it around 5bn euros. |
| Mr Kerviel, whose lawyer said he would fight the prosecution's call, maintains the bank knew about his risk taking. | |
| He is facing charges of forgery, breach of trust and unauthorised computer use. | He is facing charges of forgery, breach of trust and unauthorised computer use. |
| The maximum sentence for the allegations is five years. | The maximum sentence for the allegations is five years. |
| In his summing up of the case, prosecutor Jean-Michel Aldebet has requested the maximum sentence, but with one year suspended. | |
| The trial has seen Mr Kerviel's former bosses and colleagues line up to testify against him. | The trial has seen Mr Kerviel's former bosses and colleagues line up to testify against him. |
| SocGen's lawyer, Jean Veil, accused Mr Kerviel of "duplicity" for reassuring his bosses that nothing was wrong while racking up the huge losses. | SocGen's lawyer, Jean Veil, accused Mr Kerviel of "duplicity" for reassuring his bosses that nothing was wrong while racking up the huge losses. |
| On Tuesday, the bank's president and chief executive at the time of the losses, Daniel Bouton, called the trading scandal a "catastrophe". | On Tuesday, the bank's president and chief executive at the time of the losses, Daniel Bouton, called the trading scandal a "catastrophe". |
| "It's not an issue of losses or amounts," he told the courtroom. | "It's not an issue of losses or amounts," he told the courtroom. |
| "The trust that should exist between us is shattered. I cannot believe for one second any of Jerome Kerviel's supervisors were aware [of his actions]." | "The trust that should exist between us is shattered. I cannot believe for one second any of Jerome Kerviel's supervisors were aware [of his actions]." |
| Mr Bouton maintained that Mr Kerviel's actions were unauthorised, and "outside any remit". | Mr Bouton maintained that Mr Kerviel's actions were unauthorised, and "outside any remit". |
| But he acknowledged that there had been flaws in SocGen's risk management systems. | But he acknowledged that there had been flaws in SocGen's risk management systems. |
| At the start of the trial earlier this month, Mr Kerviel said his superiors at the bank had "encouraged" him to take risks. | At the start of the trial earlier this month, Mr Kerviel said his superiors at the bank had "encouraged" him to take risks. |
| The bank was fined 4m euros by French regulators for failures in those systems following the scandal. | The bank was fined 4m euros by French regulators for failures in those systems following the scandal. |