Audio By Carbonatix
Oct 25 (Reuters) - A friend of accused UBS fraudster Kweku Adoboli told him in 2008 she hoped never to read articles about him in the press similar to those she had read about a "rogue trader" at France's Societe Generale, a London court heard on Thursday.
Adoboli, 32, who used to work as a senior trader at UBS's investment banking arm in London, was arrested on Sept. 15, 2011 and blamed for losses of $2.3 billion. He is on trial accused of fraud and false accounting, charges he denies.
The prosecution read out to the jury an exchange of emails between Adoboli and friend Sarah Moore dating back to January 2008, when Societe Generale announced losses of 4.9 billion euros ($7.1 billion) blamed on trader Jerome Kerviel.
Moore started the exchange by forwarding to Adoboli and others a humorous newspaper article that began: "Friends of rogue trader Jerome Kerviel last night blamed his $7 billion losses on unbearable levels of stress brought on by a punishing 30-hour working week".
Adoboli responded that, "It brings so much joy, this story", commenting in the same email, "to think that he (Kerviel) does exactly what Hughesy and I do".
"Hughesy" was a reference to John Hughes, Adoboli's fellow trader at UBS's Exchange Traded Funds desk.
In her response to Adoboli, Moore commented that the more she read about the Kerviel case, the more she was struck by the similarities between the French trader's professional activities and those of Adoboli.
"Please don't let me read about you in the papers in the same fashion. It would destroy my faith in human nature forever," Moore told Adoboli.
The prosecution concluded their case, which had been running since Sept. 14, shortly after reading out Moore's email. After some legal proceedings, Adoboli was expected to take the stand in his defence later on Thursday.
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
-
Julius Debrah, ‘man to beat’ as NDC’s James Agbey dismisses Musah Dankwah’s polls
5 minutes -
GPRTU in Savannah Region to protest alleged eviction in Damongo
34 minutes -
Re: Reinsurance does not replace process — A response to the SIGA–SIC defence
49 minutes -
Gender Ministry supports Harriet Amuzu in ongoing abuse case
1 hour -
AG joins plaintiff to scrap OSP ?: We should be mindful of the mischief in this – Bobby Banson
1 hour -
Samson Lardy Anyenini questions willingness of Attorneys-General to prosecute political colleagues
1 hour -
It is only fair the OSP is heard in Supreme Court case – Bobby Banson
1 hour -
Asiedu Nketia resumes Ashanti tour, second leg kicks off on Sunday
1 hour -
NLA denies salary cut claims, threatens legal action over reports
1 hour -
BoG Governor honoured for stabilising cedi, improve inflation
2 hours -
Kyebi Easter Homecoming 2026: A resounding success!
2 hours -
RNAQ divorce ruling: What the noise is hiding
2 hours -
Trade Minister applauds GUTA as a pillar of economic growth; Prez Mahama honoured
3 hours -
President’s brother’s takeover of Damang Mines is ‘untidy’ – Alhassan Tampuli
3 hours -
It’s not true that gov’t decided not to renew the lease for Gold Fields – Bobby Banson
3 hours