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14 September 2012 Written by
14 September 2012 Written by

UBS trader Kweku Adoboli fraudulently gambled away £1.4bn as he sought to feed his ego, status and bonus, a court heard.

UBS trader Kweku Adoboli gambled £1.4bn to feed ego, court told
The 32-year-old investment banker caused "chaos and disaster to himself and all those around him" when his trading was uncovered, the prosecutor said. Instead of admitting earlier mistakes he compounded the problems by trying to cover up his trades and lying to his bosses.
The opening day of Mr Adoboli's trial on two counts of fraud and two counts of false accounting heard how the trader earned £360,000 in 2010. However the salary and bonus was not earned through skill but fraudulent trading, the court heard.
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