Kerviel's lawyer renewed the assault against SocGen
The new lawyer's former trader Jerome Kerviel, who was sentenced in 2010 to five years in prison for three farm loss of 4.9 billion suffered by the bank Société Générale ; eral in 2008, renewed the assault of his former company.
David Koubbi me, who just succeeded Olivier Metzner to defend the prisoner for his appeal hearing in June, wrote to the chairmen of the Assembly Finance e and Senate to be surprised that SocGen could receive a tax deduction of nearly 1.7 billion euros in compensation from the e episode.
In his letter obtained by Reuters has learned me Koubbi asks Jérôme Cahuzac Philippe Marini and the convening of a commission on this episode. This request will remain a dead letter at least for now, the Parliament sitting over pending legislative elections in June
But it is a way for Jerome Kerviel, also condemned in first instance to repay 4.9 billion euros, to start the assault on his former company , it has always accused of being informed of their risk practices and turning a blind eye as they pertained.
Koubbi is me in his letter that a tax deduction for exceptional loss is legally possible that if there were no obvious deficiency in the controls. Now this is the case, since the Banking Commission fined 4 million euros to SocGen in 2008 for this failure.
"It seems to me that the allocation of that amount in favor of Societe Generale goes against the established case law applicable to the deduction tax (…) I therefore ask you to convene a committee to inform our citizens, "the lawyer wrote in his letters.
Convicted of embezzlement, forgery and using false and fraudulent intrusion into a system of data processing, Jerome Kerviel, who was also sentenced to ; repay the loss, is currently free and still has not paid, the appeal is suspensive.
The trial court ruled that he had deliberately violated his professional engagements and hidden the reality of its position in its hierarchy.
The young man admitted pronouncements risk of dizzy from 2005 to 2008 on European equity market indices, reaching nearly 50 billion euros, and camouflaged by other reversals of orders fictitious market, expected to cover the risk.
Unsettled after the announcement of their discovery by the bank, in full rout of financial markets, these positions, which were once largely the beneficiaries, ultimately caused a net loss of 4.9 billion euros.
The term fast cash does not refer to money that falls from the sky. It refers to the money obtained through a cash advance.