Rogue trader is jailed for fraud
Trader Kweku Adoboli has been jailed for seven years after costing the UBS bank £1.4 billion.
Latest ITV News reports
Former City trader gets 7 years for fraud
Former UBS trader Kweku Adoboli has been found guilty of fraud after costing the bank £1.4 billion.
Read the full storyUBS trader found guilty of fraud
A rogue trader who cost a major international bank £1.4 billion has been found guilty of fraud.
32 year-old Kweku Adoboli exceeded his trading limits and failed to hedge trades at the London office of Swiss bank UBS.
A jury at Southwark Crown Court has found him guilty of one charge of fraud - it is still considering another as well as four counts of false accounting. £2.8 billion was wiped off UBS's share value after the scale of Adoboli's deals was discovered.