Jerome Kerviel was under a lot of pressure and after it was discovered that he was responsible for unauthorized bets that cost the bank, Societe Generale SA a loss of 4.9 billion Euros ($6 billion). This was confirmed by Valerie Rolland-Lesueur, who worked with him at the bank.
She confirmed this in the court while testifying in the case. She was working with Jerome in the bank’s compliance and control group. She also answered questions about her relationship with Jerome apart from the bank’s compliance techniques.
Valerie remembered that when Jerome was caught he looked very nervous and tired. She admitted that she had coffee with Jerome the day the bank discovered the fraud.
Jerome Kerviel is on trial for his role in the billion dollar trading loss suffered by the bank. The bank discovered the fraud on Jan. 24, 2008 and called Jerome a terrorist for his actions.
If Jerome is found guilty, he faces imprisonment of up to 5 years and a fine of 375,000 Euros.
It is alleged that Jerome knew that he will be caught one day. Despite this, Jerome took on more risk and was not worried.
Jerome had disappeared from the bank before the bank became public with its loss.
But this was disputed by Jerome’s lawyer who maintained that his activities were known to the bank.
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