French trader must pay nearly $6.7B in damages


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Societe Generale
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France
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Crime, Defense Lawyer, Fraud, Bonus, Guilty, Guilty

Crime : Former Societe Generale SA trader Jerome Kerviel was convicted on all counts Tuesday in one of history's biggest trading Frauds, sentenced to three years in jail and ordered to pay the bank a mind-numbing 4.9 Billion ($6.7 Billion) in damages.

PHOTOS: Societe Generale in pictures

The ruling marked a huge victory for Societe Generale , one of France 's most blue-blooded banks, which has worked to clean up its image and put in place tougher risk controls since the Scandal broke in 2008.

VIDEOS: Societe Generale in videos

The 33-year-old former futures index...