Remember Jerome Kerviel? Poor guy got a bit overshadowed by fellow fraudsters Bernie, Stanford & Co., but he resurfaced today, as reports note that he will stand trial in Paris.
The Societe Generale trader allegedly caused $7.2 billion in losses to the French bank back in January after all.
Kerviel, who has been freed from jail since March, has been charged with fraud and breach of trust. He faces a maximum penalty of five years of prison and a 375,000 euros fine.
This is lightweight compared to Bernie’s sentencing-150 years- and Stanford’s, who’s been jailed since he was arrested in June.
Going forward, fraudsters might want to rethink which jurisdictions they operate in.