Former UBS trader Kweku Adoboli was convicted and sentenced to seven years in jail on Tuesday for the biggest fraud in British history, which resulted in a loss of $2.3 billion for the Swiss bank. Ghanaian-born Adoboli, 32, a senior trader on the Exchange Traded Funds (ETFs) desk at UBS’s […]
Tag: Kweku Adoboli
“Rogue trader” weeps as tells court he acted for good of UBS
Former UBS trader Kweku Adoboli wept on Friday as he told a jury that his “off-book” trading was done for the benefit of the bank that meant everything to him. Addressing the court for the first time in his long-running trial in London, Adoboli said he had no reason to […]
Former UBS trader faces trial over $2.3 billion losses
A former UBS trader goes on trial in London this week in a case involving losses of $2.3 billion (1.4 billion pounds) that will subject the Swiss bank to an “uncomfortable” examination of its culture and practices. Investment banker Kweku Adoboli, who was arrested a year ago when the huge […]
