Jérôme Kerviel His trial began on 8 June 2010. On 2010, he was found guilty and sentenced to five years of prison, with two years suspended, full restitution of the $6.7 billion which was lost, and a permanent ban from working in financial services. Caroline Guillaumin, a spokeswoman for Société Générale, stated that the restitution was "symbolic", and that the bank had no expectation that the sum would be paid. Olivier Metzner, Kerviel's lawyer, described the sentence as "extraordinary" and said that Kerviel would appeal. Kerviel's sentence was suspended until his appeal was completed. On 24 October 2012, a Paris appeals court
Morgan Stanley by 'pre-hedging' trades without their consent. The Financial Services Authority fined the firm £1.4m for failing to use controls properly relating to the actions of a rogue trader on one of its trading desks. Morgan Stanley admitted on June 18, 2008 this resulted in a $120m loss for the firm. Morgan Stanley managing director Du Jun was convicted of insider trading after a criminal trial in Hong Kong. Mr. Du was accused of buying 26.7 million shares of Citic Resource Holdings while in possession of confidential information about the company. He gained this information as part of a Morgan Stanley