French rogue trader Jerome Kerviel is expected to be freed on bail when he appears in court today as part of the initial criminal investigation into his €4.9bn fraud.

Societe Generale told how its rogue trader evaded controls to bet €50bn – more than the French bank’s market worth – on European markets.

SOCIETE GENERALE detailed yesterday how a young trader evaded all its controls to bet some €50 billion — more than the French bank’s market worth — saying he hacked computers and used other “fraudulent methods” to cover his tracks, causing billions of dollars in losses.