Belfast Telegraph

Man behind £1.4bn fraud freed from jail

By Roger Baird

The man convicted of the UK's biggest banking fraud has been released from prison after serving half of his seven-year sentence.

Former UBS trader Kweku Adoboli (35) was jailed in November 2012 after being found guilty of two counts of fraud that resulted in losses of £1.4bn. Adoboli, a former public schoolboy, was released from Maidstone prison in Kent last week.

The former University of Nottingham graduate is understood to be staying with friends while he pieces his life back to together.

Three years ago a court found that Adoboli, a Ghanaian trader, had abused his position on UBS's exchange traded funds desk to rack up the largest trading loss ever in UK banking history.

Belfast Telegraph