Bloomberg News

Ex-UBS Trader Adoboli Denied Bail by U.K. Judge, Prosecutor Says

February 03, 2012

Feb. 3 (Bloomberg) -- Kweku Adoboli, the former UBS AG trader who is accused of causing the largest loss from unauthorized trading in British history, was denied a request for bail, prosecutor David Williams said after a court hearing today.

Adoboli, 31, has been in custody since Sept. 15 when UBS asked London police to arrest him for causing a $2.3 billion loss. He has pleaded not guilty to fraud and false accounting charges on Jan. 30.

To contact the reporter on this story: Lindsay Fortado in London at lfortado@bloomberg.net

To contact the editor responsible for this story: Christopher Scinta at cscinta@bloomberg.net


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