• Jérôme Kerviel is a French swindler convicted of conducting fake and unauthorized transactions at the Société Générale.

  • To offset his one-sided bets with an opposite position that didn’t really exist, Kerviel created fake trades in the system’s computers and logs.
  • To hide his success, he began to deliberately create losing trades to offset his early profits.
  • Kerviel deals resulted in losses of the company’s assets in the amount of 4.9 billion euros.
  • Kerviel served five months in prison and was ordered to pay a €4.9 billion fine, which was later reduced to €1 million.