Audio By Carbonatix
A defence lawyer for accused UBS "rogue trader" Kweku Adoboli told a London court on Thursday that far from acting alone, the ex-trader had learnt his behaviour from UBS colleagues.
Adoboli, 32, was arrested on Sept. 15, 2011. He is now on trial for fraud and false accounting that cost the Swiss bank $2.3 billion. He has pleaded not guilty.
His lawyer Charles Sherrard told Southwark Crown Court that Adoboli's three colleagues on the Exchange Traded Funds desk had actively taken part in some of the fraudulent behaviour he is accused of.
He said they had later "stabbed him in the back and left him to bleed on the prison floor" after he ran into trouble.
Sherrard said Adoboli had learnt some of his ways, such as the use of an illicit "umbrella" account to disguise his true trading position, from others in UBS and that there had been, and perhaps still were, other "secret books" within the Swiss bank's trading accounts.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Deloitte Partner urges clear, consistent policies to govern mining license renewals, local content
20 minutes -
Xenophobic attacks: Ghana must pursue justice for victims beyond evacuation – Bosome Freho MP
25 minutes -
BOPP positions sustainable agribusiness as investment frontier
27 minutes -
Ga Mantse demands action against chiefs selling lands on waterways
29 minutes -
South African Tourism condemns anti-immigrant attacks, reassures African travellers
31 minutes -
APSU 2002 Year Group announces key leadership appointments for 97th anniversary hosting & BOLT Steering Committee
1 hour -
Government backs hybrid model for Ghana’s extractive sector, rejects move to shut out foreign investors
1 hour -
LMWG commends Heath Goldfields on 5-year community development plan for Prestea
1 hour -
Eswatini champions SiSwati stories in digital age at World Book Day 2026
1 hour -
Only weak men forgive cheating partner – Yul Edochie
1 hour -
Meta repeatedly snubs EU body over Facebook and Instagram user bans
1 hour -
Family wealth should be viewed as asset class for building transgenerational enterprises – Alex Dadey
1 hour -
Evacuation of Ghanaians from SA: ‘Ghana’s response was not necessary’ – Julius Malema
1 hour -
Childhood kidney care strained by shortage of specialists, limited equipment—Paediatric Nephrologist
2 hours -
Over 3m Ghanaians live with mild mental health conditions—GloMeFÂ
2 hours