Former UBS AG trader Kweku Adoboli was found guilty of fraud in relation to a $2.3 billion loss, the largest from unauthorized trading in British history. He was cleared on four counts of false accounting.
Adoboli was convicted today following a two-month-long London trial, during which lawyers for the 32-year-old argued UBS managers pushed traders to take too many risks and rule- breaking at the bank was rampant.
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