E.R.R

E.R.R

Wednesday, November 21, 2012

Kweku Adoboli - Former UBS Trader Jailed For Seven Years After Being Found Guilty Of £1.4 Billion Fraud - UK's Biggest Ever Fraud






A UBS trader is today facing years in prison after being found guilty of the UK's biggest ever fraud when he lost £1.4bn for his Swiss employer.

Former public schoolboy Kweku Adoboli, 32, was ‘a gamble or two away from destroying Switzerland's largest bank for his own gain', Southwark Crown Court heard. 

At one point during his run of losses, rising star City trader Kweku Adoboli stood to run up losses of $12 billion (£7.5 billion) for UBS.

He was today [Nov. 20] found guilty of two counts of fraud and jailed for seven years. But he was acquitted of four outstanding false accounting charges.

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