Kweku Adoboli, the former UBS trader whose unauthorised trading led to losses of $2.3bn at the Swiss bank, has been jailed for seven years after being convicted of Britain’s biggest banking fraud.
Judge Brian Keith told Adoboli his “fall from grace as a result of these convictions is spectacular”. He said Adoboli had a “strong streak of the gambler” and had been “arrogant” enough to think the bank’s rules did not apply to him.
A jury at Southwark Crown Court on Tuesday returned verdicts of guilty on two counts of fraud by abuse of position, including one count relating to the unauthorised $2.3bn of losses he racked up at UBS.
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