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

    Survivor stories from Super Typhoon Haiyan

    Survivor stories from Super Typhoon Haiyan

    The Philippines’ Typhoon Haiyan was the strongest storm ever to make landfall. Five years on, we revisit this story.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    We Are Still Here: A Story from Native Alaska

    We Are Still Here: A Story from Native Alaska

    From Qatar to Alaska, a personal journey exploring what it means to belong when your culture is endangered.