Kweku Adoboli
Kweku Adoboli was a trader at Swiss bank UBS’ Global Synthetic Equities trading team in London and is best known for his role in the 2011 UBS rogue trader scandal. Adoboli was born on 21 May 1980. His family home was in Accra, Ghana, but he has lived in the UK since 1991 and been described as "British by culture, citizenry and fame".[1]
Childhood and education
He is the son of a senior United Nations official and grew up in Israel, Syria and Iraq before being sent to Ackworth School in West Yorkshire where, according to the Times, he was head boy. In his profile on the school’s website, he says he wanted to be an athlete or a chemical engineer when he grew up. Adoboli graduated from the University of Nottingham in July 2003 with an honours degree in computer science and management.[2][3]
Career
According to his LinkedIn social networking profile, from 2006 to 2011, he worked at UBS’s Equity Trading division as a trade support analyst in the bank’s city of London office. Prior to this, he had been a trade support analyst at the same bank. Whilst in his more recent role, Adoboli was arrested under suspicion of fraud in connection with a loss of a then-estimated $2 billion, due to unauthorized trading at UBS’ investment bank.[2]
Charges
On 16 September 2011, it was announced that City of London Police charged Adoboli with fraud by abuse of position and false accounting. Adoboli spent time in prison until 8 June 2012, when he was granted bail on the condition that he is placed under curfew at a friend’s house and electronically tagged. Adoboli denies all charges levelled against him and his trial is due to commence on 3 September 2012. If convicted, he could face up to 10 years in jail.[4]
References
- ^ Ahmed Sule (20 September 2011). "Kweku Adoboli: Every 'criminal African". Business Day.
- ^ a b Jay Newton-Small (15 September 2011). "The UBS 'Rogue Trader' Scandal: Just Who Is Kweku Adoboli?". Time.com.
- ^ Gordon Rayner, Andrew Hough and Victoria Ward (15 September 2011). "I need a miracle: rogue trader Kweku Adoboli who lost UBS 1.3bn". Daily Telegraph. Retrieved 15 September 2012.
- ^ "UBS 'rogue trader' Kweku Adoboli released on bail in McDonald's car park". Daily Telegraph. 13 June 2012.