UBS 'rogue trader' on trial in UK

Case opens against Ghanaian who reportedly caused $2.3bn loss in so-called unauthorised trades.

    Kweku Adoboli was arrested last year and is charged with fraud and false accounting, for allegedly losing his bank, UBS, a cool $2.3 billion in so-called unauthorised trades.

    The 32-year-old Ghanaian has pleaded not guilty to the charge.

    On Friday the prosecution accused him of acting like a naked gambler.

    At one level this is a trial about the misdeeds of a single rogue trader and how he was able to make such a mess of things for so long.

    In the public’s perception at least, the behaviour of banks like UBS is at the heart of the ongoing economic crisis.

    Al Jazeera's Sylvia Lennan reports.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    Why Jerusalem is not the capital of Israel

    Why Jerusalem is not the capital of Israel

    No country in the world recognises Jerusalem as Israel's capital.

    Strong quotes for Martin Luther King Jr Day

    Quotes from Martin Luther King Jr that resonate today

    Quotes of justice, education, religion and race said by MLK Jr.

    Bitcoin: Know the risks before you buy

    Bitcoin: All you need to know before you buy

    'Bitcoin is right now the riskiest investment you can make.' Here are the risks you should consider before you buy.