during his trial, a fellow trader gave evidence on jerome kerviel's behalf. every day, the supervisor went to the warehouse and said nothing. his promotion from the back office said the prosecution meant he had the expert knowledge of the computer system. the court ruled on the evidence available, his managers could not have known what he was up to. >> it does not mean that the banking system is not guilty of promoting. >> jerome kerviel walked free today, his appeal already under way. his enormous debt it is a lifetime sentence. >> a russian man accused of being one of the world's most of korea's arms dealers is to be extradited from thailand to the united states. >> there are two versions of his life. innocent russian businessmen or notorious arms dealer. which one is true? it will now be decided in america. >> the guided missiles, mortars, mines. >> the soviet era weapons field wars across africa. they set up a sting in bangkok, where he allegedly offered stolen arms. britain's intelligence service attract them. >> he is a merchant of death. he does trade

. >> jerome kerviel was charged in 2008. he became instantly famous, fraud on such a scale that almost brought down one of france's oldest banks. hit -- the defense blamed the culture of the bank. but the court found that the blame rested should sort -- solely on the shoulders of the road trader. >> this is a recut mission that the bank could not have known about the fraudulent system, showing that the allies, the forged documents, all of the methods used to deceive the message -- the management were unknown to the bank. >> jerome kerviel was allowed to leave the court today to prepare his appeal. many in france see him as a scapegoat for a banking industry that was dangerously out of control. >> joining me now to discuss the verdict is our chief economics correspondent. essentially the court has blamed the entire multibillion- dollar fraud on this one man. >> yes, george, i think the bank will be quite believe that this outcome, although we are hearing that there will be an appeal, so the bank could go down that avenue. the

jerome kerviel was found guilty of chester mining the one of the biggest banking fraud in history -- masterminding one of the biggest banking fraud in history. >> if his trading positions had made a profit, he would not be here today. they punish the man, not the system. >> he could match almost any big deals that he traded. he never made the cover in debts. -- the bets. >> he said it was as they wanted to buy 10 tons of strawberries and instead came back with 100 tons of potatoes. every day he went through the warehouse and said nothing. >> this promotion from the back- office meant that he have the expert knowledge of the computer systems to hide the bets he was placing. his managers cannot have known or suspected what he was up to. >> the banking system is found guilty of promoting this. >> jerome kerviel walked free today, his appeal under way. 4 and men working as a computer consultant earning less than 30,000 euros a year, the overwhelming that is a lifelong sentence. >> the release of the video show police using a taser stun gun against an unarmed out the original man. it happ

. >> jerome kerviel has been found guilty in one of the biggest trading fraud. he was given three years in prison and a suspended sentence. he was also told to pay 4.9 billion euros in damages. he worked for societe generale, one of the leading banks in france. the bank lost billions because of his trading. >> jerome kerviel i arrived with his lawyer, and the prosecution said that he took a risk on a massive scale without authorization. >> the court knew societe generale had no knowledge of the fraud that he was collaborating. and they were completely unaware of the systems and falsifications, and everything that was greeted by him for the bank. >> the defense said societe generale turned a blind eye as long as he was earning money. >> this is an absolutely unreasonable verdict, and the bank is responsible for nothing. this is not responsible for the creature that has made, and that only he is responsible for the crisis of the banking system. >> kerviel has denied working without their knowledge and he was angry at the decision of the court. >> and pakistan the

jerome kerviel was found guilty today. for his lies and deception, he was sentenced to three years behind bars. he left a debt of 4.9 billion euros. >> if he had made a profit, he will not be here today. they punish the man, not the system. >> he never made the covering bets. by 2008, he had staked nearly 50 million euros. >> he had been sent home to buy 10 tons of strawberries and instead came home with 100 tons of potatoes. every day, they went through the warehouse and said nothing. his promotion from the back office meant that he had the expert knowledge of the computer system to hide the bets he was placing. the managers could not have known or suspected what he was upto to. >> they are not guilty of promoting a general environment where risk-taking is a good thing. >> the deal is already underway. he is working as a consultant earning less than 30,000 euros a year, his enormous debt is a lifetime sentence. >> there is more ahead. trapped miners, will be going underground with the men who risk their lives for a chance

max kaiser this is the kaiser report markets finance scandals jerome kerviel he was sentenced to some jail time recently my point is why bother with the level law.

know it's pretty bright actually next to the refrigerator nicely and you know you talked about jerome kerviel and i was here in new york in my hotel room last night the news was talking about this long shore men were involved in this cocaine deal but they also were involved in a pump and dump scheme and where they defrauded investors of about three million dollars and using facebook and twitter and things like this pumping penny shares so three million dollars and the news program where the hosts were saying that the attorney general is shocked at this and they think if these longshoreman could be so immoral it's a danger to our national security that they're so corruptible for three million dollars max. well it's about time the longshoreman figured out how to make really serious money instead of shaking down candy stores and rigging you know government contracts here's a way to make some real money join citigroup j.p. morgan goldman sachs manipulate the markets do your pumping and dumping on the on the new york stock exchange and the over the counter exchange i'm sure the longshoreman's unio

guys are this is the kaiser report markets finance and scandals jerome kerviel he was sentenced to some jail time recently my point is why bother with the long level street derivatives dealers why not put the crime lords like the management of society generale engine.

guys are this is the kaiser report markets finance and scandals jerome kerviel well it was sentenced to some jail time recently my point is why bother with the long level street derivatives dealers why not put the crime lords like the management of society generale in jail those are the guys that are counterfeiting bonds those the guys who are engaged in a massive global money laundering derivatives dealing counterfeiting schemes the big first got away again shocking while speaking of influence centers of influence new york city wall street the devil's den home of the devil's currency the new york federal reserve bank of the us dollar is seeing today.

jerome kerviel was sentenced to three years in prison and he was ordered to pay his former employer $6.8million. >>> up to 51-inches of rain have fallen since friday and more is in the forecast. at least 26 people are confirmed dead, several others are missing. some 34,000 have been forced from their homes and acres and acres of crops have been lost. flooding kills hundreds of vietnamese every year. >> reporter: palo alto, minlow park and citizens group claim rail authorities haven't done enough work on the environmental impact report. lawsuit says ridership projections are faulty and planners didn't look at alternate routes. civic leaders say they don't want the system to run through their city. >>> san francisco's proposed ban on alcohol is dead. gavin newsom argued the city could not afford it. advocates said the fee would only amount to a few cents a drink. >>> the white house today announced two solar projects two of which will be the largest efforts ever in public land. each plant could produce enough energy for up to a half million homes. the white house itself is going solar. the

jerome kerviel was sentenced to three years in prison and he was ordered to pay his former employer $6.8 million. >>> up to 51-inches of rain have fallen since friday and more is in the forecast. at least 26 people are confirmed dead, several others are missing. some 34,000 have been forced from their homes and acres and acres of crops have been lost. flooding kills hundreds of vietnamese every year. >> reporter: palo alto, minlow park and citizens group claim rail authorities haven't done enough work on the environmental impact report. lawsuit says ridership projections are faulty and planners didn't look at alternate routes. civic leaders say they don't want the system to run through their city. >>> san francisco's proposed ban on alcohol is dead. gavin newsom argued the city could not afford it. advocates said the fee would only amount to a few cents a drink. >>> the white house today announced two solar projects two of which will be the largest efforts ever in public land. each plant could produce enough energy for up to a half million homes. the white house itself is going solar. th

prosecution to fight crime against those who made decisions that hurt others it's what happened to jerome kerviel in france a trader whose risky betting left the french banks society genere all in the midst of scandal the judge said he broke rules threaten the stability of his firm and of the global financial order he was given three years in prison a sentence that drew gasps from those present in the court room in iceland the parliament there voted former prime minister gary hart should be held criminally responsible for negligence for the collapse of his country's financial system of course there were mistakes made in the political process that that's for sure i have somebody fungibility put up of course i have paid the political price for that by leaving politics many there think he should pay a bigger price he faces two years behind bars if convicted back in the u.s. capitol in a recent hearing on the hill an acknowledgement there is a public perception in the wake of events of two thousand and eight that unfortunately has some justification that i small number of wealthy and powerful america

ever has been ordered to repay six point seven billion dollars paris court found that trader jerome kerviel was guilty of forgery breach of trust and authorized computer use he was also sentenced to three years in prison for his part in the two thousand and eight scandal that shook the bank society genere all kerviel insists that his superiors or at the at the bank world where of his actions and were happy as long as he was making money he's due to appeal the court's decision. a family of five has been killed after an armed gang stormed a house in mexico city one man was shot dead at the scene while his family was kidnapped their bodies were found later in the day elsewhere in mexico with ortiz arrested seventeen people they suspect of having links to the gulf drug cartel nearly thirty thousand people have been killed in drug related violence since the two thousand and six crackdown on the cartels. europeans who are deeply angry over getting their welfare benefits co while taxes are high are making their voices heard with loud protests across the continent they say they don't want to pay fo

financial crisis holding them accountable like all other criminals see just today rogue trader jerome kerviel responsible for one of the biggest bank frauds ever was sentenced to at least three years in prison and ordered to pay back the nearly seven billion dollars that he lost his bank this sentence was looked up by some peoples an extraordinarily harsh one but it does make a point it's intended to be a stern message to french banks and traders that irresponsible and risky trading and financial regulator irregularities wow that was our will not be tolerated now back in may iceland took similar measures the former chief executive of the collapsed. was the first high profile banker to be detained in the wake of their financial meltdown in october of two thousand and eight the special prosecutor investigating said that mr sigurdsson was suspected of falsifying documents and breaking laws on stock trading for personal gain and you know it here in america how many bankers have we arrested or not even gone that far but investigated questioned treated like everyone else and not elites that are for

jerome kerviel was sentenced to three years in prison, and he was ordered to repay the bank a staggering $6.7 billion in damages. defense lawyers promised to appeal. they said, at his current salary, it would take kerviel more tn 175,000 years to pay the damages. the u.s. supreme court will decide how far the government may go in background checks of employees. the court today heard a case involving private contractors working for nasa. they oppose having to give personal information, including medical history and past drug use. the outcome could have far- reaching effects, because the same employment questionnaires are used throughout the federal work force. hungary declared a state of emergency after a torrent of toxic sludge from an aluminum plant tore through several towns. the death toll rose to four, with 120 injured. the reddish mud burst through a containment reservoir yesterday, and gushed down roads, pushing cars out of its way. the sludge covered entire villages, forcing hundreds to flee. the toxic waste from aluminum production can burn skin on contact, and cause cancer if it