French judges are taking aim at ex-Société Générale trader Jerome Kerviel — ordering him to stand trial over transactions that cost the bank billions of dollars, in a case that drew attention to a culture of risk-taking blamed for feeding the financial crisis.
Kerviel, charged with forgery, breach of trust and unauthorized computer use, faces up to five years in prison and $537,500 in fines if convicted.
The bank, whose chairman quit in the aftermath, welcomed the move. Kerviel argues that his superiors knew about his daring transactions, though SocGen says he acted alone.
The large French bank caused a firestorm when it announced in January 2008 that it lost more than $7 billion unwinding what it said were unauthorized positions held by Kerviel.
The trial is expected in early 2010.

