A former dealer at Swiss bank UBS who is alleged to have lost more than $2.3bn through unauthorised trading has been found guilty of two counts of fraud and sentenced to seven years in prison.
Kweku Adoboli of Whitechapel, East London, had been accused of two counts of fraud linked to the biggest financial fraud in British history between October 2008 and September 2011.
The 32 year old heard the unanimous guilty verdict at Southwark Crown Court today, after the 11 members of the jury had deliberated for more than five days. He was acquitted on four charges of false accounting related to the allegations.
Adoboli has always denied the charges, saying that managers at UBS had pressurised him to take unauthorised risks in order to raise profits for the bank.
He had faced a maximum of 20 years in prison based on the two fraud convictions.
Written and presented by Alfred Joyner