Adoboli sentenced to seven years for $2.3 billion fraud

adoboli
Adoboli: guilty

Kweku Adoboli has been found guilty of two counts of fraud by abuse of position. His trading activities caused a loss to UBS of $2.2502 billion.

The jury found Adoboli not guilty of four charges of false accounting, however.

Adoboli worked as a trader on the exchange-traded fund (ETF) desk at UBS. He amassed unhedged positions that far exceeded his risk limits, set at $100 million intraday and $50 million overnight, and which he concealed from the bank.

Judge Brian Keith told Adoboli: "There is

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