Adoboli allowed to suspend $1 billion loss, court hears

Kweku Adoboli had permission to suspend a loss of $1 billion, a London court heard today


A back-office contractor at UBS is alleged to have permitted Kweku Adoboli, the accused rogue trader, to hold back from entering a loss of $1 billion into the accounts.

Adoboli faces charges of fraud and false accounting, which he denies. He is alleged to have suspended profits and losses (P&L) in a hidden account, known as the "umbrella".

Johannes Zuidmeer, who worked as a P&L controller for Adoboli's exchange-traded fund (ETF) desk, permitted him to suspend a loss of $1 billion on August 11

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options


Want to know what’s included in our free membership? Click here

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here