Former Societe Generale trader Jerome Kerviel is facing three years in jail after being convicted by a Paris court.

Kerviel was told he must also repay the damages of 4.9bn euros ($7bn; £4bn) which the bank said it lost through his risky trades.

He was found guilty of forgery, unauthorised computer use and breach of trust.

According to the plaintiff lawyer, SocGen is not planning to make Jerome Kerviel replay the damages, which is only sensible. The amount (4.9 Billion Euro) will wipe out the net worth of the 106th wealthiest person on earth, going by the 2010 Forbe's list. The damage being awarded is more symbolic and clear SocGen from class action lawsuit, since the statement clearly state it is a solo act, and the bank is not in the know until a few days before the story broke. (I find that hard to believe)