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UBS rogue trader found guilty of fraud

by William Robins on Nov 20, 2012 at 13:43

UBS rogue trader found guilty of fraud

Former UBS trader Kweku Adoboli has been found guilty of fraud after losing the bank $2.3 billion (£1.4 billion).

The former exchange traded funds (ETF) dealer Adoboli (pictured) was convicted of one of four charges of false accounting and two counts of fraud at Southwark Crown Court.

The charges related to fraudulent trades committed between October 2008 and September 2011.

Adoboli was arrested on 15 September 2011 for alleged unauthorised trading. It was later discovered around $2.3 billion was lost at the bank in delta one trading.

1 comment so far. Why not have your say?

Half Baked

Nov 20, 2012 at 15:58

Arrested? Promoted!

He turned around A potential £7.5B loss into a couple of million pound loss, before losing the bank £1.4B.

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