Former UBS trader jailed for seven years

  • A London trader who lost $2.2 billion of Swiss bank UBS's money has been sentenced to seven years in prison after being found guilty of two counts of fraud.

    On Tuesday, Southwark Crown Court heard Kweku Adoboli was "a gamble or two away from destroying Switzerland's largest bank".

    Adoboli, 32, was cleared of four charges of false accounting.

    He had denied the charges, which relate to the period between October 2008 and September 2011.

    Adoboli was arrested on September 15, 2011. He worked in UBS's global synthetic equities division, buying and selling exchange traded funds (ETFs), which follow stocks, bonds and commodities.