‘Rogue trader’ trial: Jury sent home

16:25 15 November 2012

Kweku Adoboli. Picture: Lewis Whyld/PA Wire

Kweku Adoboli. Picture: Lewis Whyld/PA Wire

The jury in the trial of a city trader accused of gambling away £1.4billion have been sent home for the day.

Kweku Adoboli, 32, is charged with fraud and false accounting over the losses to UBS, which wiped £2.8billion off the Swiss bank’s share value.

Prosecutors claim that in a bid to boost his status and bonuses Adoboli exceeded his trading limits and failed to hedge trades, faking records to cover his tracks.

He denies any wrongdoing, saying he was pressured by senior managers to take risks.

Adoboli, from Clark Street, Whitechapel, east London, is accused of two counts of fraud and four counts of false accounting between October 2008 and September 2011, which he denies.

During his summing up of the evidence, Mr Justice Keith asked jurors to decide whether Adoboli acted dishonestly “by the standards of sensible and honest people” when considering the fraud charges.

He added that Adoboli may have had “more than one reason” for his actions.

“The difficulty here is that when people do things, they often have more than one reason for doing them,” he said.

“It may therefore be difficult for you to say that what motivated Mr Adoboli was solely his desire to maximise profits for the bank, or that what motivated Mr Adoboli was solely his desire to increase his bonus and his prospects for advancement within the bank.

“Things are never that black and white.”

The jury is to resume its deliberations at 2pm tomorrow.

Related articles

Latest Crime news

Friday, May 27, 2016
A man in his sixties stabbed in the face 'with a pair of scissors' this morning (Picture: Getty)

Scotland Yard say they have arrested someone after a man was viciously stabbed in the face with a pair of scissors in west London.

Friday, May 27, 2016
Michael Purcell has been jailed for life

A Cricklewood steelworker who murdered his lesbian flatmate showed his hatred of her sexuality by mutilating her genitals it has been revealed today.

Friday, May 27, 2016
Police said men fired shots at a car in Armitage Road in Greenwich (Picture: Street View)

A young man was rushed to hospital last night after he was shot at ‘while in his car’ on a Greenwich street, Scotland Yard said.

Thursday, May 26, 2016
Armed police will patrol Brent

Armed police will be patrolling the streets of Brent following an increase in shootings in the borough.

Thursday, May 26, 2016
The mystery girl was found wandering in  the evening in Daleham Gardens

Police are trying to trace an 11-year-old girl who was discovered wandering in the street in her pyjamas saying she had run away from home.

Wednesday, May 25, 2016
Operation Viper will see more armed police on London's streets  (Photo: Peter Macdiarmid/Getty Images)

Armed police patrols will target gun crime hotspots across the capital after a rise in the number of shootings, as Scotland Yard says there are more guns on the streets.

What is this?

Near You Now

Don't Miss...

Competitions

Win a BMW 1 series

There are fewer cars currently on the market more stylish and exciting than the BMW. Known all over the world as one of the best car manufacturers, the BMW is renowned for sleek designs and fantastic high quality workmanship.

Read more
Kindle 7 inch tablet

Are you looking for a brand new gadget to help you stay connected on the go and make that long journey home a bit more entertaining? Look no further. MyOffers is giving you the chance to win 1 of 50 Kindle Fire 7” Display Tablets! That’s 50 times more chances to win, so hurry up and enter our competition today and you could be one of our lucky winners!

Read more

Latest Tech News

Transport