French rogue trader goes on trial

Jerome Kerviel, the French trader accused of gambling away billions of his bank’s money, was due to face trial today.

Two and a half years after the scandal broke, Kerviel will appear in a Paris court, accused by Societe Generale of risking tens of billions of euros of its money in trades which led to nearly €5bn in losses once the bank unwound his positions in January 2008.