Trader Kerviel begins appeal by blaming bank

Ex-trader Jerome Kerviel began his appeal yesterday against a three-year sentence for his role in France’s biggest rogue trading scandal, arguing he was not responsible for a €4.9bn loss at banking group Société Générale.

Showing little emotion, Mr Kerviel hit back at SocGen over the 2010 conviction that held him responsible for massive, risky bets uncovered in 2008.

The 35-year-old claims his superiors knew what he was doing. SocGen denies any part in the trades.