Adoboli colleague denies knowledge of ‘umbrella’ fund


Simon Taylor, a junior colleague of accused UBS rogue trader Kweku Adoboli, told a court today he had not known about the "umbrella" account in which profits from off-book trades were allegedly hidden. 

Adoboli is facing charges of fraud and false accounting, which he denies. The jury heard earlier in the trial that Adoboli had explained the umbrella account to his three colleagues on the exchange-traded fund (ETF) desk – John Hughes, Taylor and junior trader Christophe Bertrand. An email

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