Court drops fine for former SocGen trader Kerviel

French court upholds prison sentence for convicted rogue trader

France's highest appeals court Wednesday upheld a three-year prison sentence for former Societe Generale trader Jérôme Kerviel but overturned €4.9 billion ($6.83 billion) in civil damages.

The ruling means Kerviel, whose massive market bets brought the French bank to the verge of collapse in 2008, has exhausted all legal options to avoid a jail term.

WSJ Logo
110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the BrinkExternal link

110-Hour Workweeks Drove Young Bankers at a Boutique Firm to the Brink