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UBS ‘rogue’ trader Kweku Adoboli to be bailed
 

UBS ‘rogue’ trader Kweku Adoboli to be bailed

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A City trader accused of a £1.4bn ($2.2bn) fraud at the London offices of Swiss banking giant UBS is to be freed from Wandsworth Prison on bail.Kweku Adoboli, 32, will be released on Monday with an ...

A City trader accused of a £1.4bn ($2.2bn) fraud at the London offices of Swiss banking giant UBS is to be freed from Wandsworth Prison on bail.Kweku Adoboli, 32, will be released on Monday with an electronic tag ahead of his trial in September, a bail hearing at Southwark Crown Court heard.He was “delighted” by the decision, his lawyer Giles Bark-Jones said.The trader, who was arrested in September last year, denies two charges of false accounting and two of fraud.

£1.4bn fraud accused granted bail

A City trader from London 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.After a bail hearing held behind closed doors at Southwark Crown Court, Adoboli was granted bail on the condition that he must reside at a friend's house and abide by a curfew enforced using an electronic tag.A sum of surety, put up by friends but which was not disclosed publicly, was also imposed.Adoboli was said to be "delighted" to have been given bail.He is due to stand trial in September with a possible preliminary hearing scheduled for July 20.

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    UBS ‘rogue’ trader Kweku Adoboli to be bailed UBS ‘rogue’ trader Kweku Adoboli to be bailed Presentation Transcript

    • UBS ‘rogue’ trader KwekuAdoboli to be bailed
    • TitleA City trader accused of a £1.4bn ($2.2bn) fraud atthe London offices of Swiss banking giant UBS isto be freed from Wandsworth Prison on bail.KwekuAdoboli, 32, will be released on Monday with anelectronic tag ahead of his trial in September, abail hearing at Southwark Crown Court heard.He was “delighted” by the decision, his lawyerGiles Bark-Jones said.The trader, who was arrested in September lastyear, denies two charges of false accounting andtwo of fraud.
    • £1.4bn fraud accused granted bailA City trader from London accused ofgambling away a record £1.4 billion in abanking fraud has been granted bail.Kweku Adoboli, 32, from Clark Street,Whitechapel, east London, is accused oflosing the money while working for Swissbanking giant UBS.
    • TitleHe denied two counts of fraud and twocounts of false accounting at an earlierhearing but was remanded in custody.After a bail hearing held behind closeddoors at Southwark Crown Court, Adoboliwas granted bail on the condition that hemust reside at a friends house and abide bya curfew enforced using an electronic tag.
    • A sum of surety, put up byfriends but which was notdisclosed publicly, was alsoimposed.Adoboli was said to be"delighted" to have been givenbail.He is due to stand trial inSeptember with a possiblepreliminary hearing scheduledfor July 20.