Well, the verdict is in
Ex-French trader must pay $6.7 billion for fraud - Yahoo! News
He didn't steal the money, he lost it trading. Imagine if the same rules were applied to traders and bankers in the US.
Ex-French trader must pay $6.7 billion for fraud - Yahoo! News
I wonder how much he has saved in his bank account. Will he have to sign notes? Refinance? Maybe the bank will spread it out: over 1000 years, 0 interest – only 408 thousand euros per month. This gives new meaning to the duration of indentured servitude.PARIS – Former Societe Generale SA trader Jerome Kerviel was convicted on all counts Tuesday in one of history's biggest trading frauds, sentenced to three years in jail and ordered to pay the bank a mind-numbing euro4.9 billion ($6.7 billion) in damages.
He didn't steal the money, he lost it trading. Imagine if the same rules were applied to traders and bankers in the US.