Ubs £1.4bn fraud accused kweku adoboli granted bail

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A City trader accused of gambling away a record £1.4 billion in a banking fraud has been granted bail.

Kweku Adoboli, 32, from Clark Street, Whitechapel, east London, is accused of losing the money while working for Swiss banking giant UBS.

He denied two counts of fraud and two counts of false accounting at an earlier hearing but was remanded in custody.

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Ubs £1.4bn fraud accused kweku adoboli granted bail

  1. 1. UBS £1.4bn fraudaccused KwekuAdoboli granted bail
  2. 2. City trader accused of gambling away arecord £1.4 billion in a banking fraud hasbeen granted bail.Kweku Adoboli, 32, from Clark Street,Whitechapel, east London, is accused oflosing the money while working for Swissbanking giant UBS.He denieA d two counts of fraud and twocounts of false accounting at an earlierhearing but was remanded in custody.
  3. 3. Today after a bail hearing held behindclosed doors at Southwark Crown Court,Adoboli was granted bail on thecondition that he must reside at afriends house and abide by a curfewenforced using an electronic tag.A sum of surety, put up by friends butwhich was not disclosed publicly, wasalso imposed.Adoboli was said to be "delighted" tohave been given bail.
  4. 4. He is due to stand trial in September withTim Harris ExperienceSolicitorBark & Co Solicitors a possible preliminary hearing scheduledPartnership; 11-50 employees; Law Practice industryMarch 2009 – Present (3 years 4 months) for July 20.I have a broad practice specialising in business and white collar crime. PAI act for Kweku Adoboli (UBS). I also act for a client involved in a highly publicised FSA insider-dealing investigation as well as acting for a director in the FSA’s largest prosecution toI defend clients investigated or charged with all forms of dishonesty offences, bribery / corruption and breaches of FSMA / insider dealing.I act for corporate clients and individuals in civil proceedings featuring allegations of fraud, breach of trust and fiduciary duty.

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