Rogue trader Kerviel begins 3-year stint in French prison

Six years after his first arrest, French rogue trader Jerome Kerviel has begun a three-year prison term for his role in the near collapse of Societe Generale bank.

After a weekend of high drama in which he had threatened to stay in Italy in a bid to get president Francois Hollande to intervene in his case, the 37-year-old finally surrendered to police at midnight after crossing the border at the Riviera town of Menton.

After an overnight stay in a police station there, he was transferred yesterday to a prison in nearby Nice.