Kweku Adoboli found guilty on one count of fraud

The Ghanaian man in the centre of a $2.3 billion fraud at Swiss bank, UBS in the UK, Kweku Adoboli has been found guilty on one count of fraud.

According to a BBC news bulletin monitored in Accra by ghanabusinessnews.com, 32-year-old Adoboli, denied four charges of false accounting and two of fraud between October 2008 and September 2011.

The prosecution told Southwark Crown Court he was “a gamble or two away from destroying Switzerland’s largest bank”.

Adoboli, who worked in UBS’s global synthetic equities division, buying and selling exchange traded funds (ETFs), which track stocks, bonds and commodities, was arrested on September 15, 2011.

By Emmanuel K. Dogbevi