Societe Generale brought forth its own monster: the system Kerviel. It is this belief by hammered three hours on Friday, lawyers for the former trader, Me Nicolas Huc-Morel and Mr. Olivier Metzner. "Jerome Kerviel has been formed, formatted, can be distorted by Societe Generale." "It is his creation, a being in a virtual world where figures have more value. The question is not so much who is Kerviel but how it makes men like that "asked Olivier Metzner. He called for the acquittal on two of the offenses alleged against the former trader, abuse of trust and forgery, uttering false. But he pleaded guilty of "fraudulent introduction of data."A decision that leaves the door open for a moderate sentence while the prosecutor had demanded five years in prison Thursday that four farms.
The abuse of trust the former trader accused does not, said the lawyer for Kerviel who has not diverted money. He only played with limits, "the informal, intangible. And his partner Mr. Nicolas Huc-Morel added: "To say that the limits have been exceeded, they would have first been established that they are. The jurisprudence of the Court of Cassation does not recognize a breach of trust if the employer has the capability of control and that the facts are repeated over time, pointed me Metzner.
"The bright red and the black part" of Societe Generale
In Defense of Kerviel, the liability of 4.9 billion euro loss at Societe Generale responsibility payday loan companies. Aside from the "conservative", "pure", "transparent" to the bank and the "fiery red" from its logo, "there is the black section, where we build extraordinary products where it has lost a lot of money "denounced Metzner. "We're going to virtuality, immateriality. And the defender of irony about the rhetoric of the bank and the prosecution which argued that the hierarchy of Kerviel saw nothing and knew the transactions at issue. Engaging the judges of the trial, he spun the metaphor."Is that for three weeks three of you did not see what was the other?" Asked the lawyer to the president of the court, Dominique Pauthe, two magistrates and judges.
According to its defense, Jerome Kerviel did not threaten the sustainability of Societe Generale, the bank has put itself in danger on risk products. Therefore Kerviel was a scapegoat to hide this ideal mismanagement, have hammered the two lawyers. Mr Olivier Metzner also concluded his argument on the maxim of the economist John Galbraith. "When everybody sees nobody wins, everybody loses when you need a guilty one." The Criminal Court of Paris will give its verdict on October 5.
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