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> Economy

French financier who wasted away €4.9 bn., set free

He will still be monitored by authorities

Newsroom September 8 06:12

French trader Jérôme Kerviel, who was imprisoned in 2008 because he managed to lose billions of his bank’s money due to unauthorized trades, was released today, suspended after serving just 150 days of a three-year sentence.

The 37 year-old Kerviel, because of whom Société Générale lost 4.9 billion euros in 2008, said he is happy to be leaving his cell for a Paris apartment, where he can live under regulations that prohibit him leaving after 8:30 in the evening.

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“The struggle continues”, he said, coming out of prison who must wear an electronic tracking bracelet until June 2015 and remain at home between 8:30pm and 7am.

Kerviel was original sentenced to five years imprisonment, two of them suspended and fined 4.9 billion euros, equivalent to the loss recorded by his former employer. The fine was subsequently removed after an appeal.

Kerviel is expected to work in a software company.

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