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
-
From Accra to the UK: The remarkable journey of Diana Hamilton
4 minutes -
China no longer Pentagon’s top security priority
7 minutes -
TikTok US venture to collect precise user location data
54 minutes -
Dr. Nyaho-Tamakloe blasts NPP’s top-down rebuilding strategy
2 hours -
UniMAC mourns student killed in hit-and-run near South Legon campus
2 hours -
Single company contracted by DVLA to produce number plates joins suit blocking introduction of new number plates as defendant
2 hours -
Bawumia tipped to win NPP primary with 57% – Global InfoAnalytics final poll
3 hours -
Manhunt for Gomoa Potsin herdsman after Kasoa election day gunman confesses
4 hours -
Achimota Retail Centre braces for Day 2 of ‘Joy At The Mall’ after Day 1 extravaganza
4 hours -
Joe Wise hopes for an NPP Chairman like the NDC’s Asiedu Nketiah
5 hours -
Joy Prime’s Prime Insight to dissect NPP peace pact and fuel price drop on Saturday
6 hours -
Harry says sacrifices by Nato troops in Afghanistan deserve ‘respect’
8 hours -
Vice President visits Sports Ministry to strengthen coordination, oversee 2026 plans
8 hours -
CHRAJ urges Ofori-Atta to return, assures intervention in case of unfair trial
8 hours -
Felicia Anthonio: A global voice shaping the future of digital rights and internet freedom
8 hours
