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Rogue trader Kerviel could be released with ankle bracelet

A French judge has ruled that rogue trader Jérôme Kerviel could be released from prison if he wears an ankle bracelet, his lawyer claimed on Tuesday. But prosecutors insisted that the judgement has not yet been delivered.

Rogue trader Jérôme Kerviel is detained in Nice in May
Rogue trader Jérôme Kerviel is detained in Nice in May Reuters/Jean-Pierre Amet
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Kerviel has been sentenced to three years in prison for making dubious trades that led to the loss of nearly five billion euros for the French bank Société Générale in 2008.

His lawyer, David Koubbi, on Tuesday said that a judge in Evry, near Paris, has agreed to Kerviel’s request for a supervised release.

The decision would mean that Kerviel can live at home and even work, as long as he wears an electronic ankle monitor until the end of his sentence in September 2016 - an “immense relief”, according to Koubbi.

But prosecutors later said that the judgement will not be released until Friday and that they would say then whether they will appeal against the decision, which would Kerviel remaining in prison until the next hearing in two months time.

He is also due to appear in another court in September for his request for an independent investigation into the losses registered by the bank in 2008 to be examined.

He accuses the bank of blaming him for losses incurred by other traders and has lodged a complaint alleging witness-tampering in the testimony of one of his superiors who claimed to know nothing of what he was doing.
 

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