AIRLINK 189.64 Decreased By ▼ -7.01 (-3.56%)
BOP 10.09 Decreased By ▼ -0.05 (-0.49%)
CNERGY 6.68 Decreased By ▼ -0.01 (-0.15%)
FCCL 34.14 Increased By ▲ 1.12 (3.39%)
FFL 17.09 Increased By ▲ 0.44 (2.64%)
FLYNG 23.83 Increased By ▲ 1.38 (6.15%)
HUBC 126.05 Decreased By ▼ -1.24 (-0.97%)
HUMNL 13.79 Decreased By ▼ -0.11 (-0.79%)
KEL 4.77 Increased By ▲ 0.01 (0.21%)
KOSM 6.58 Increased By ▲ 0.21 (3.3%)
MLCF 43.28 Increased By ▲ 1.06 (2.51%)
OGDC 224.96 Increased By ▲ 11.93 (5.6%)
PACE 7.38 Increased By ▲ 0.37 (5.28%)
PAEL 41.74 Increased By ▲ 0.87 (2.13%)
PIAHCLA 17.19 Increased By ▲ 0.37 (2.2%)
PIBTL 8.41 Increased By ▲ 0.12 (1.45%)
POWER 9.05 Increased By ▲ 0.23 (2.61%)
PPL 193.09 Increased By ▲ 9.52 (5.19%)
PRL 37.34 Decreased By ▼ -0.93 (-2.43%)
PTC 24.02 Decreased By ▼ -0.05 (-0.21%)
SEARL 94.54 Decreased By ▼ -0.57 (-0.6%)
SILK 0.99 Decreased By ▼ -0.01 (-1%)
SSGC 39.93 Decreased By ▼ -0.38 (-0.94%)
SYM 17.77 Decreased By ▼ -0.44 (-2.42%)
TELE 8.66 Decreased By ▼ -0.07 (-0.8%)
TPLP 12.39 Increased By ▲ 0.18 (1.47%)
TRG 62.65 Decreased By ▼ -1.71 (-2.66%)
WAVESAPP 10.28 Decreased By ▼ -0.16 (-1.53%)
WTL 1.75 Decreased By ▼ -0.04 (-2.23%)
YOUW 3.97 Decreased By ▼ -0.03 (-0.75%)
BR100 11,814 Increased By 90.4 (0.77%)
BR30 36,234 Increased By 874.6 (2.47%)
KSE100 113,247 Increased By 609 (0.54%)
KSE30 35,712 Increased By 253.6 (0.72%)

Kweku Adoboli, the UBS trader accused of losing $2.3 billion (1.78 billion euros), broke down in tears on Friday as he took to the witness stand for the first time in his trial in London. Before entering the witness box at Southwark Crown Court, Adoboli was charged with two further counts of false accounting, to which he pleaded not guilty.
He choked up and wiped his eyes with a handkerchief when his lawyer noted that his father, a Ghanaian former United Nations official, had been at the court to support him since his trial began on September 10. Adoboli, 32, stands accused of faking hedge deals by inventing clients, leaving Switzerland's biggest bank exposed to huge losses when the market turned against him.
In addition to the new charges, he also denies two charges of fraud and two charges of false accounting in the period between October 2008 and September last year. "This is the first opportunity you have had to give evidence on oath," his lawyer Paul Garlick told him. Wearing a dark suit, white shirt and a red tie, Adoboli confirmed his name, date of birth and place of birth in the Ghanaian capital Accra.
He described his early life, moving from Ghana to Jerusalem, then Damascus, Ghana and Israel again due to his father's work. He became emotional and wiped tears from his eyes as his lawyer said his father had been in the courtroom throughout his trial to support him.
After recovering his composure, Adoboli explained that to end the disruption of moving from country to country, he was sent to a Quaker boarding school in England and then attended a university in England. While there he secured an internship with UBS, which then offered him a job.

Copyright Agence France-Presse, 2012

Comments

Comments are closed.