Kerviel appeal trial: Finally, the witness

Jerome Kerviel's lawyer had promised the Paris Appeal court to reveal the name of an anonymous witness who would support his theory of a plot hatched by Société Générale against his client: He was true to his word today, and said that the witness is an ex-employee of Newedge, Philippe Houbé.

Houbé should come to the court on Thursday.

Moreover, the trader who unwound Kerviel's €50 billion positions in January 2008 (resulting in a €4.9 billion loss or $6.4 billion for Société Générale) will also testify on the same day.

On Friday, also as promised, Kerviel's lawyer gave documents to the Paris court of Appeal. Head judge Mireille Filippini was to read them over the weekend. Did she learn something new? “No,” she said.  “The court didn't learn anything.”

Will the new witnesses lend support to Kerviel's plot theory? It remains to be seen....


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