Adoboli's fellow trader knew about off-book profits, court hears

legal

At least one other trader on the UBS exchange-traded fund (ETF) desk in London knew that alleged rogue trader Kweku Adoboli was concealing off-book profits, a London court heard today.

Like Adoboli, John Hughes was a senior ETF trader at UBS in 2011. Testifying in Southwark Crown Court today, he said Adoboli had mentioned the existence of an unofficial account in which he kept profits from off-book trades in January 2011.

In an exchange of instant messages on January 20, Hughes said he had

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