VOICED: Frenchman Kerviel in massive rogue trade trial

Jerome Kerviel, a trader at Societe Generale, was involved in a major trading scandal, accused of losing billions through unauthorized deals. While the bank labeled him a fraudster, Kerviel claimed his superiors were aware of his actions. The scandal led to significant financial losses for the bank and resulted in Kerviel being viewed as an antihero in France. He published a memoir suggesting that management ignored risky bets as long as profits were high. Societe Generale admitted to missing numerous warning signs, leading to job losses among top executives. Kerviel faced charges including breach of trust and falsifying data, with potential imprisonment.

What has Societe Generale acknowledged regarding its role in the scandal?

What are some of the charges Kerviel is facing?