Prosecutor seeks four years in prison for trader

A French prosecutor is seeking a sentence of four years in prison for former Societe Generale trader Jerome Kerviel, accused of one of history’s biggest trading frauds.

Prosecutor Jean-Michel Aldebet called Kerviel “a manipulator, a trickster, a liar” in today’s trial proceedings in Paris.

He requested five years in prison, with one year suspended. The maximum possible sentence is five years for the charges Kerviel faced of forgery, breach of trust and unauthorised computer use.

Kerviel bet up to 50 billion euros (about £40 billion) of the bank’s money, costing Societe Generale nearly five billion euros once it unwound his positions in January 2008.

Kerviel says the bank tolerated his massive risk-taking as long as he was making money, a claim the bank denies.