Sunday, 21 April, 2019

Sacked colleague of UBS rogue trader Adoboli opens betting site

LONDON (Reuters) – A former senior trader at UBS, sacked for failing to prevent colleague Kweku Adoboli from perpetrating the biggest fraud in British history, has set up a gambling website. In a decision likely to be seized upon by critics who say traders have often made casino-style bets, John Hughes started his gambling firm even though his website said his old job had “removed all sense of optimism from his character”. Adoboli, his former subordinate now serving seven years in jail for running up losses of $2. …

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