Photo: AFPAFP · 23 Sep 2016, 14:04Published: 23 Sep 2016 14:04 GMT+02:00French "rogue trader" Jerome Kerviel was ordered Friday to pay €1 million ($1.12 million) to his former employer Societe Generale, which lost 4.9 billion euros through his trades. Kerviel, who has called for a retrial, said after the verdict that "the struggle continues", adding: "I still believe I owe nothing to Societe Generale. For his part, Jean Veil, a lawyer for Societe Generale, said the ruling was "completely satisfactory". The court could have ordered Kerviel to pay the entire €4.9 billion or not a single centime -- which would have been a humiliating defeat for the bank. Although he was paid a relatively modest salary, Kerviel is alleged to have made Societe Generale €1.9 billion before the financial crisis accelerated his losses.

Source: The Local September 23, 2016 12:00 UTC