EUR 4.9 billion Compensation

EUR 4.9 billion Compensation

Had shocked the world in 2008 before the French Societe Generale trader Jerome Cavey El transaction fraud sentencing in Paris after the lapse of two years .   buy mbt shoes Although this is known as the "devil traders , "the IQ means of fraud suspects for their offense to run out , being sentenced to 5 years in prison and 4.9 billion euros in the history of a rare astronomical compensation.
Misdemeanor court in Paris from 5 to this massive trading fraud was sentenced. As the protagonist of the case , the French Societe Generale bank's former futures traders Jerome Cavey El was convicted of "breach of fiduciary duty ,Marc Jacobs Handbags sale fraud and the use of fraudulent data " and other charges and sentenced to 5 years in prison ( three of which can not be Probation ).
In addition to imprisonment , the court also sentenced Cavey el damages to the plaintiff, the Industrial Bank of EUR 4.9 billion . Cavey el trial in June , introduced his current job as "information technology consultant ", a monthly salary of 2300 euros . French media so the calculation , if the wages paid by Cavey el existing compensation , Belle Mens Shoeswill need more than 170,000 years.
Cavey , 33, allegedly arrested on suspicion of El from 2006 to 2007 , the diversion of huge amounts of money wild speculation European banks index , the Industrial Bank caused the loss of up to EUR 4.9 billion . The bank announced in January 2008 loss, then forced to raise capital and restructuring management. The case has thus become the history of France 's largest trading limit fraud , but also the world's banking sector suffered due to illegal operations staff of the single largest amount of losses.
After more than three months after trial , the court that the defendant Cavey el " over the terms of reference of the bank without the knowledge of large-scale speculation . Herve Leger Dresses" The court also believes that " the defendant provided material enough to prove that Industrial Bank when the defendant informed speculation . "
To win the case , the original defendant, the authority of both the French employed a barrister as an advocate . Cavey El is hired former French Prime Minister Dominique de Villepin who have defense counsel奥利维耶梅Cina do his own defense lawyer.
Mei Cina counsel during the trial tried to prove that the Industrial Bank in El Cavey , not only knowledge of a range of actions , and to encourage such a large-scale speculation. Cavey has repeatedly argued that he was El -level scapegoat. After the verdict was announced , Mei Cina believe that this result is "   mbt shoes sale  completely irrational and untrue . "
Cavey has been through a lawyer , said El , will soon file an appeal.