UBS rogue trader gets seven years in jail

Comment on this story


UBSAboboli

REUTERS

Former UBS trader Kweko Adoboli arrives at Southwark Crown Court in London, November 20, 2012. The jury in the London trial of former UBS trader Kweku Adoboli, who is blamed for a loss of $2.3 billion, continues to consider its verdicts. REUTERS/Stefan Wermuth (BRITAIN - Tags: BUSINESS CRIME LAW)

UBS rogue trader Kweku Adoboli was given a seven-year jail sentence on Tuesday after being convicted of two counts of fraud resulting in the Swiss bank's losing $2.3 billion.

He will serve half his sentence minus a year already spent in custody - a total of 2-1/2 years.

Adoboli was earlier acquitted at Southwark Crown Court of four related charges of false accounting. - Reuters


sign up
 
 

Comment Guidelines



  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks