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
-
Ghana’s prisons: A national issue we can’t ignore
28 minutes -
Flight recorders recovered from ‘devastating’ Amazon cargo plane crash
3 hours -
AI cancer cures slowed by chip shortage, says UK’s biggest tech boss
3 hours -
Grindr to pay ÂŁ26m to settle claims it allegedly shared users’ HIV status
3 hours -
China to pump $54bn into state banks and insurers to boost economy
3 hours -
Legal Green Association to hold maiden law students’ conference
3 hours -
Dolly Parton’s sister pleads for end to ‘AI garbage’ posts after singer’s death
3 hours -
Minority calls for itemised bill on GH¢49.7 million South Africa evacuation expenditure
3 hours -
Australians will be able to switch off social media algorithms under planned legislation
3 hours -
WAEC admits more study needed into fluctuating core subject performance
4 hours -
Jordan Ayew close to EFL Championship move as Sheffield Utd talks intensify
4 hours -
WAEC questions why core-subject failure keeps shifting from one subject to another
4 hours -
Herbert Mensah joins African Collaborations Group advisory board
4 hours -
WAEC demands further study into persistent English Language failures
4 hours -
Rybakina sweeps past Osaka to close in on number one ranking
5 hours