UBS 'glad criminal proceedings have reached a conclusion'

UBS said in a statement they were "glad" criminal proceedings against their former employee Kweku Adoboli had "reached a conclusion." Adoboli was jailed today for seven years for committing the UK's largest ever fraud.

We are glad that the criminal proceedings have reached a conclusion and thank the police and the UK authorities for their professional handling of this case. We have no further comment.

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UBS rogue trader jailed

A rogue trader who lost £1.4 billion in bad deals has been jailed for seven years after being convicted of fraud. But Kweku Adoboli was acquitted of the four outstanding false accounting charges.