Adoboli sentenced to seven years for $2.3 billion fraud
Ex-UBS trader convicted of fraud, but found not guilty of false accounting
Kweku Adoboli has been found guilty of two counts of fraud by abuse of position. His trading activities caused a loss to UBS of $2.2502 billion.
The jury found Adoboli not guilty of four charges of false accounting, however.
Adoboli worked as a trader on the exchange-traded fund (ETF) desk at UBS. He amassed unhedged positions that far exceeded his risk limits, set at $100 million intraday and $50 million overnight, and which he concealed from the bank.
Judge Brian Keith told Adoboli: "There is
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