Ghanaian-born Kweku Adoboli, 32, who was privately educated in England, has been in the media spot light recently for almost single handedly bringing down the banking giant UBS with off the book deals and secret gambling costing more than £1.5bn.
Yep that’s right. 1.5 billion pounds!
A jury at Southwark Crown Court convicted Adoboli, who is said to be the biggest UK fraudster by police, on two counts of fraud. One by a unanimous verdict the other on a majority.
Adoboli was acquitted on four separate charges of false accounting but today judge, Mr Justice Brian Keith, jailed the banker for seven years due to the seriousness of his crime.
The City police’s economic crime directorate, said:
[Adoboli] was trusted. He abused that trust. He lied and cheated to his colleagues but eventually justice caught up with him
Adoboli was first arrested on 14 September 2011 after back-office accountants began to press him on apparent anomalies in his trading records but for eight years he was still able to increase his combined salary and bonus from £30,000 to £360,000.
Thankfully the only sums this greedy banker will be doing from now on are the ones he writes on his cell wall.