HUFFINGTON POST
11/05/2012 01:05 pm ET Updated Nov 05, 2012

Jerome Kerviel, The Most Indebted Person In The World, Owes $6.3 Billion To Former Employer, Societe Generale

In a hyper-competitive world where everyone strives to be the biggest, boldest and most famous, no one covets Jerome Kerviel record-breaking achievement.

He is the most indebted person in the world.

Thanks to a court ruling in late October, the former junior trader for France's second largest bank, Societe Generale, owes the company a cool $6.3 billion -- an amount so gargantuan it couldn't possibly be repaid.

But considering an appeals court upheld the sentence after Kerviel was accused of orchestrating $73 billion in what the Atlantic politely refers to as "unauthorized trades," it's difficult to maintain a grounded sense of proportion.

Jean Veil, one of the lawyers representing Societe Generale, told the Guardian the bank would take a "realistic" approach to recovering the $6.3 billion from Kerviel, whose sentence also includes three years in prison.

One of Kerviel's lawyers, Olivier Metzner, previously explained to CNN he believes his client has been scapegoated for the financial crimes. He also asserted that the bank knew of Kerviel's actions but turned a blind eye because, though risky, they'd been profitable.

"The banks are the ones to blame for the banking system and the systematic economic crisis, not Jerome Kerviel," he told the station.

According to the Associated Press, the 35-year-old Kerviel never personally profited from any of the trades.

RELATED ON HUFFPOST:

PHOTO GALLERIES
10 Bankers Behind Bars
Sign up for our email.
Find out how much you really know about the state of the nation.

CONVERSATIONS