bark and co solicitors london: http://www.mirror.co.uk/news/uk-news/ubs-rogue-tra...

bark and co solicitors london: http://www.mirror.co.uk/news/uk-news/ubs-rogue-tra...: http://www.mirror.co.uk/news/uk-news/ubs-rogue-trader-kweku-adoboli-658418 A City trader today denied gambling away a record £1.5 billion ...

bark and co solicitors london: http://www.mirror.co.uk/news/uk-news/ubs-rogue-tra...

bark and co solicitors london: http://www.mirror.co.uk/news/uk-news/ubs-rogue-tra...: http://www.mirror.co.uk/news/uk-news/ubs-rogue-trader-kweku-adoboli-658418 A City trader today denied gambling away a record £1.5 billion ...

http://www.mirror.co.uk/news/uk-news/ubs-rogue-trader-kweku-adoboli-658418

A City trader today denied gambling away a record £1.5 billion in Britain's biggest banking fraud.

 Kweku Adoboli, 31, from Clark Street, east London, will go on trial accused of losing the cash while working for Swiss banking giant UBS.

 He spoke only to enter not guilty pleas to two counts of fraud and two counts of false accounting as he appeared in the dock at Southwark Crown Court.

 Adoboli, wearing a tailored grey suit and dark blue tie, sat forward in his seat and took notes as pre-trial arrangements were made.

 He said "Thank you, your honour" as Judge Alistair McCreath set a provisional trial date of September 3.

 "I remand you in custody," the judge told Adoboli. "I or some other judge will hear some application for bail."

 A pre-trial management hearing will take place on April 9.

 Adoboli worked for UBS's global synthetic equities division, buying and selling exchange traded funds, which track different types of stocks, bonds or commodities such as metals.

 He is accused of dishonestly using his position to try to make a personal gain, and causing UBS losses or exposing the bank to the risk of loss.

 City watchdog the Financial Services Authority and its Swiss counterpart have launched an investigation into why UBS failed to spot allegedly fraudulent trading.

 Charges relate to the period between October 2008 and last September.

 Prosecutors allege he gambled away the cash while buying and selling exchange traded funds.

 Adoboli has hired London law firm Bark & Co, which specialises in fraud cases, and is represented by Paul Garlic QC.

bark and co solicitors london: Former UBS Trader Kweku Adoboli Pleads Not Guilty ...

bark and co solicitors london: Former UBS Trader Kweku Adoboli Pleads Not Guilty ...: http://www.bloomberg.com/news/2012-01-30/ex-ubs-trader-adoboli-pleads-not-guilty-to-fraud-false-accounting-charges.html Kweku Adoboli, the...

Former UBS Trader Kweku Adoboli Pleads Not Guilty Over Unauthorized Trades

http://www.bloomberg.com/news/2012-01-30/ex-ubs-trader-adoboli-pleads-not-guilty-to-fraud-false-accounting-charges.html

Kweku Adoboli, the former UBS AG (UBSN) trader who is accused of causing the largest loss from unauthorized trading in British history, pleaded not guilty to fraud and false accounting.

Adoboli, dressed in a grey suit and blue tie, pleaded not guilty to all charges at a hearing in London today. A trial that may last as long as eight weeks was scheduled to start in early September.

Adoboli, 31, has been in custody since Sept. 15 when UBS asked London police to arrest him for causing a $2.3 billion loss. The case led to the departures of Chief Executive OfficerOswald Gruebel and the co-heads of the Swiss bank’s global equities business. The trial could be “really awful” for UBS, said Steven Francis, a regulatory lawyer in London.

“There’ll be an assessment of what training he was given” and of “the bank’s compliance procedures,” said Francis, a lawyer at Reynolds Porter Chamberlain, who isn’t involved in the case.

UBS isn’t able to comment on the case because “English criminal law limits what we can say about this incident,” Oliver Gadney, a spokesman for the bank, said in an e-mailed statement.