French court upholds trader conviction

France's highest court of appeal has upheld the conviction and three-year jail sentence of former Societe Generale trader Jerome Kerviel today, but overturned a 2012 civil ruling that fined him €4.9 billion (£4 billion) to match the bank's losses.

Former Societe Generale trader Jerome Kerviel Credit: Reuters

Kerviel's market bets brought the French bank to the brink of collapse in 2008.

A new civil trial will take place before the Versailles Appeals Court to decide on eventual damages.