France's biggest rogue-trader waits to learn his fate October 24, 2012 -- Updated 1048 GMT (1848 HKT) Jerome Kerviel may avoid prison and fines His original conviction took the blame off the bank he worked for Society Generale has said they may not hold Kerviel to payment of a large fine The former employee traded $64 billion for nearly $6 billion in losses (CNN) -- Jerome Kerviel, the man behind France's biggest rogue-trading scandal, finds out Wednesday if he can avoid prison for betting 50 billion euros ($64 billion) of a French bank's money without its knowledge. In October 2010, a judge handed Kerviel a five-year sentence but suspended two years of it. His former lawyer, Olivier Metzner, filed for appeal, and the court will announce its verdict Wednesday. The trader is now represented by lawyer David Koubbi. The bank, Societe Generale, was pleased with the original conviction, because it placed responsibility for the rogue trades with Kerviel and not with the bank. If Kerviel's conviction is overturned, it could once more raise questions about the bank's role in the scandal. The trader was also originally ordered to pay 4.9 billion euros ($6.3 billion) in damages to the financial institution, which has indicated it may not hold him to that, as it would be an impossible sum to shell out even in multiple lifetimes. The former Societe Generale employee went on trial in June 2010 on charges of forgery, breach of trust and unauthorized computer use. The banks says the unhedged bets cost it almost $6 billion. Kerviel had pleaded guilty to the charge of computer abuse, but Metzner had asked jurors in his closing arguments to acquit his client of the charges of breach of trust and forgery. Metzner previously told CNN that Kerviel's behavior was strongly influenced by the environment at Societe Generale. "The banks are the ones to blame for the banking system and the systematic economic crisis, not Jerome Kerviel," he said. Kerviel traded European index futures for the bank. He was the only person ever charged in the case, despite claiming he did everything with the knowledge of his superiors. I am convinced the criminal file is full of elements proving that my superiors knew and covered for me. At least I shouldn't be the only one in the dock," he told CNN after the release of his memoirs, "Trapped in a Spiral: Memoirs of a Trader" in which he pleads his innocence. "These managers earned colossal amounts of money out of bonuses based on the ever-growing results that I was making for the bank," he said. Societe Generale, which said it discovered the losses in January 2008, said that at no time were supervisors aware of Kerviel's alleged unlawful activities.