Former UBS trader Kweku Adoboli
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City trader 'gambled away' £1.4bn

A former City trader accused of the largest banking fraud in British history "gambled away" £1.4bn ($2.3bn) of his firm's money, a jury has heard.

The jury were also told that Mr Adoboli exceeded his trading limits at UBS in a bid to get a bigger bonus and 'boost his ego'.

The Swiss bank's share price dropped by 10% as a result of his actions.

Kweku Adoboli, 32, of Whitechapel, east London, has pleaded not guilty to two charges of fraud and two of false accounting for exceeding his trading limits while working for UBS.

Emma Simpson reports.

  • 14 Sep 2012