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UBS trader Kweku Adoboli risked losing £7.4bn, court told
An alleged rogue trader accused of causing losses of £1.4bn at a Swiss bank was at one point at risk of losing nearly £7.4bn, a court has heard. Kweku Adoboli, 32, is accused of gambling away the money by carrying out high-risk trades in an attempt to boost his bonus and job prospects. He worked as a trader for UBS and thought he had "the magic touch" but in fact caused "chaos and disaster", Southwark crown court heard on Friday. He is accused of two counts of fraud and two counts of false accounting while working for UBS. The charges relate to the period between October 2008 and last September. Sasha Wass QC, ... (full story)
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