Kerviel to Appear in Paris Court for Trial on his Involvement in Business Failure

Accused businessman Jerome Kerviel will be appearing before a Paris court on Tuesday, wherein the judges will be scrutinizing his involvement in a business failure worth 4.9 billion-euro in 2008, which had pushed Societe Generale, the French Bank, to bankruptcy.

The prosecution will stimulate the struggle of the bank in re-gaining the support of the customers in the wake of the volatile economic situation around.

Kerviel, 33, has admitted that he had initiated the illegal business transactions which resulted into the failure. He said that this violation had been accepted and this made way for the legitimate protection.

In response, Societe Generale has exclaimed that he is the only culprit and none of the bank officials has been associated with him.

The bank wants Kerviel to be imprisoned. He is likely to face a jail term of 5 years and a fine worth 375,000-euro, if the charges of breach of trust, forgery and computer abuse are substantiated in the trial.

The trial will also check for a deal Olivier Metzner and Jean Veil, the pioneering lawyers in Paris.

Metzner will be defending Kerviel. The hearing will continue till June 25.