French rogue trader's €4.9 billion fine
Not far from being an all-time record. Jerome Kerviel, the rogue trader from Societe Generale got sentenced to 8 months in jail and a €4,9 billion fine.
For more than a year, Kerviel had been trading illegally billions without being caught by the bank watchdogs.
The 2008 financial crisis made his nine zeros figures benefits become losses... and the bank finally realized someone was gambling with its clients' money.
The question now is to understand if Kerviel is the scapegoat of a financial world which has lost the slightest bit of common sense.