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French rogue trader to stay in jail French rogue trader Jerome Kerviel to go to jail
(35 minutes later)
Jailed French rogue trader Jerome Kerviel loses his appeal against a three-year sentence but his fine is cancelled The French rogue trader who caused huge losses at bank Societe Generale has lost his appeal against a three-year jail sentence.
More to follow. France's highest court upheld the jail sentence against Jerome Kerviel but ordered a review of the 4.9bn euros (£4.1bn) in damages he was told to pay.
The court said a lower court decision had not taken into account the bank's own responsibility when it ordered him to make good the bank's entire losses.
Kerviel's lawyer called it "a victory".