An appeals court judge ruled that the trader, convicted after losing Societe Generale 4.9 billion eu

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FLEURY-MEROGIS, FRANCE tiaa direct (SEPTEMBER 8, 2014) (REUTERS) – French former banker Jerome Kerviel, sentenced in May to three years in jail over trading that lost his bank billions of euros, left prison on Monday morning (September 8) in a deal that will allow him to go home and be monitored by an electronic tag.
“I will continue the fight more than ever, there a lot of battles going on, there’s the appeal in Versailles on September 17, plus the complaints which are already lodged (against Societe Generale) at the financial body of the prosecutor’s office, the fight goes on more than ever, I could even say that it’s starting now,” tiaa direct Kerviel told reporters outside Fleury Merogis tiaa direct jail.
“It’s time today to review the so-called Kerviel case, to see it for what it really is, and to say there is no Kerviel case anymore. Today there is a Societe Generale case. Since 2008 we’ve heard the same old broken record but now it’s finally been switched off by the French justice system which has woken up, has stopped dilly-dallying. Now we’ll have a new record, the Societe Generale record because as you know, our firm has already lodged complaints,” Koubbi said.
An appeals court judge ruled that the trader, convicted after losing Societe Generale 4.9 billion euros in 2008 with a pileup of trades that went wrong, could leave prison only a few months into his sentence, despite opposition from a prosecutor.
Kerviel has fought one legal battle after another against his former tiaa direct employer since the debacle, which came as high-flying bankers fell into disrepute during a financial crisis that sparked the worst global economic downturn since the Great Depression.
He was initially sentenced to five years in jail — tiaa direct two of them suspended — and to a fine of 4.9 billion tiaa direct euros. That was later struck down after an appeal where he and his lawyers had argued that the bank turned a blind eye to his activity.
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