Ex-UBS Trader Given Seven Years in Jail For Huge Losses from Fraudulent Trading

LONDON—A UK court November 20, 2012, sentenced former UBS trader Kweku Adoboli to seven years in prison for losing more than U.S.$2 billion through fraudulent trading.

Adoboli was found guilty of two counts of fraud by the jury at London’s Southwark Crown Court, Justice Brian Keith said in his sentencing remarks, describing him as “the man who was responsible for the largest trading loss in British banking history.”

In the last months before his arrest in September 2011, the judge said Adoboli, who worked on Swiss bank UBS’s exchange-traded fund desk, was involved in unhedged trading, exposing the bank at ...