Thursday, June 28, 2012

Lawyers of French trader who lost billions at top bank ask court for acquittal

Lawyers for French trader Jerome Kerviel, who's appealing his conviction for covering up billions of dollars in losses, have asked a court to acquit their client and not be duped by the top bank that employed him.

In Thursday's final arguments, lawyer Julien Dami Le Coz asked, "Where are the real liars in this courtroom?" He said the court must "speak the law," making acquittal the only outcome.

Kerviel, 35, claims Societe Generale was aware of his bets that cost ?4.9 billion ? $7 billion at the time ? to unwind them.

The prosecution has asked for a new guilty verdict and five years in prison ? harsher than the three years Kerviel received in 2010. The court ordered the funds repaid.

The verdict is expected in the fall.

Source: http://feeds.foxnews.com/~r/foxnews/world/~3/M4GI4N5riPk/

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