1. Ex-UBS trader to enter
plea- The Irish Times
Bark & Co solicitors
2. Ex-UBS trader Kweku Adoboli (31) is to appear in
court in London today charged with two counts of
fraud and two of false accounting. Photograph:
Andrew Winning/Reuters.
A former UBS trader accused of unauthorised dealing that cost the
Swiss bank $2.3 billion and led to the resignation of its chief
executive was expected to enter a plea for the first time today.
Kweku Adoboli (31), who worked as a director of exchange traded funds,
has been charged with two counts of fraud and two of false
accounting and is to appear at Southwark Crown Court in London at
2pm.
UBS said it had uncovered rogue trades that took place between
October 2008 and December 2010.
Oswald Gruebel resigned as chief executive in September, saying the
losses had shocked him deeply and that UBS needed a new leader.
3. Mr Adoboli, the British-educated son of a retired
United Nations official from Ghana, was
arrested in London on September 15th and
charged a day later.
At a previous hearing, his lawyer said Mr Adoboli
was "appalled at the scale of the consequences
of his disastrous miscalculations".
Mr Adoboli last week switched legal teams ahead
of his court appearance. London law firm Bark &
Co, which specialises in fraud cases, said on
Friday it was now representing him.
Kingsley Napley, which had until then been
representing Mr Adoboli, confirmed it was no
longer working on the case. A spokeswoman
would not say why Mr Adoboli had parted
company with the law firm.