MarketWatch.com - Pre-Market Indications

Friday, March 28, 2008

Former Société Générale trader, Jerome Kerviel gets out of jail

Jérôme Kerviel, the former trader blamed for nearly €4.9 billion in losses at Société Générale, left a Paris prison cell Tuesday after more than five weeks in pretrial custody.

An appeals court ordered that Kerviel, 31, be released from prison while the investigation continues into whether he committed fraud. The judges placed Kerviel under judicial supervision, forbidding him to leave the Paris area during the inquiry. Kerviel surrendered his passport to the authorities in late January.

Lawyers involved in the case said Kerviel also had been ordered not to contact former colleagues at the bank, including 25 people named specifically.

Kerviel, looking freshly shaven and wearing a pink dress shirt and dark jacket, appeared relaxed and smiling as he left La Santé Prison in Paris on Tuesday afternoon accompanied by his lead lawyer, Elisabeth Meyer.

He waved to journalists gathered outside the prison gates but did not answer questions.


Jérôme Kerviel left La Santé prison Tuesday afternoon with Elisabeth Meyer, one of his two lawyers. He had been held since Feb. 8. (Joel Saget/Agence France-Presse)

Former Société Générale trader gets out of jail

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