Kweku Adoboli, Jailed For Seven Years

A City trader who lost 1.4bn ($2.2bn) of Swiss bank UBS's money has been jailed for seven years after being found guilty of two counts of fraud. Southwark Crown Court heard Kweku Adoboli was "a gamble or two away from destroying Switzerland's largest bank". He lost the money in "unprotected, unhedged, incautious and reckless" trades, the jury was told. Adoboli, 32, of Whitechapel, east London, was cleared of four charges of false accounting. He had denied the charges, which related to the period between October 2008 and September 2011. In his sentencing remarks, the judge, Mr Justice Keith, told Adoboli: "Whatever the verdict of the jury you would forever have been known as the man responsible for the largest trading loss in British banking history. "Your fall from grace as a result of these convictions is spectacular. The fact is you are profoundly unselfconscious of your own failings.... "There is a strong streak of the gambler in you. You were arrogant to think the bank's rules for traders did not apply to you."