The trial of a City trader accused of losing £1.4 billion while working for Swiss Bank UBS is due to begin. Kweku Adoboli will appear at Southwark Crown Court in London, to face two counts of fraud and two counts of false accounting. The prosecution case is expected to open in a few days time.
Adoboli, 32, Whitechapel, east London, is accused of losing the money in Britain's biggest alleged banking fraud. He worked for UBS's global synthetic equities division, buying and selling exchange traded funds, which track different types of stocks, bonds or commodities such as metals.
Adoboli is accused of dishonestly using his position to try to make a personal gain, and causing UBS losses or exposing the bank to the risk of loss. It is alleged that he lost a total of 2.25 billion US dollars and charges relate to the period between October 2008 and last September.
More top news
Residents from Grenfell Tower who were being temporarily housed in a Kensington hotel say they were told to leave with just hours notice
Members of the London community have rallied round to offer their help to residents of the evacuated Chalcots estate in Camden.
Evacuated residents have expressed anger and confusion at unexpectedly being told they had to leave .