The Société Générale/Jérôme Kerviel trial: issues of e-discovery and forensics plus governance, risk and compliance [UPDATED]


Reported by: Darius Champion, special correspondent to Project Counsel and Gregory P. Bufithis, founder and chairman of Project Counsel

23 June 2010 — We have had the good fortune these last two weeks to be following the Société Générale/Jérôme Kerviel trial in Paris at the Chambre Criminelle de la Cour which is the criminal court hearing the case. We have been following the case since last September.

Daniel Bouton, former chairman and chief executive of Société Générale (SocGen), who eventually resigned after criticism of his handling of the trading scandal, testified yesterday. He was the last witness to appear before the "summing up". Bouton lashed out at Kerviel in court and repeated his mantra of Kerviel being an "evil genius." He insisted that none of Kerviel‘s supervisors were aware of his trades. He acknowledged there had been failures in SocGen‘s risk control system but said Kerviel‘s ingenuity would have cracked any mechanism.

The trial will end this Friday. Kerviel risks five years in jail and paying 375,000 euros in fines if found guilty.

Please see full article below for more information.

LOADING PDF: If there are any problems, click here to download the file.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Gregory P. Bufithis, Esq., Project Counsel SCS | Attorney Advertising

Written by:


Project Counsel SCS on:

Readers' Choice 2017
Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.