Welcome

Ex-SocGen Trader in Euribor Scandal Did His Job, Judges Say (1)

Sept. 29, 2020, 3:55 PM

Societe Generale SA should have picked up the legal bills of a former swaps trader who at one point faced U.K. charges in the Euribor rigging scandal, a Paris court ruled.

SocGen unfairly singled out Stephane Esper, 45, as a rogue employee who conspired with traders at other banks, even though he was just doing his job, judges at the Paris appeals court said in a Sept. 17 ruling released late last week.

Still, the court threw out the bulk of Esper’s request for more than 5 million euros ($5.8 million) and instead awarded him 263,272 euros, mostly ...

To read the full article log in.

Learn more about a Bloomberg Law subscription.