Sponsored by: Investment Center

Something new in your business?  Click here to submit your business press release

Chamber Corner | Main Street News | Job Hunt | Classifieds | Calendar | Illinois Lottery 

Jailed UBS trader seeks to appeal conviction

Send a link to a friend

[March 02, 2013]  LONDON (AP) -- Britain's Court of Appeal says a former UBS trader found guilty of a fraud that lost the Swiss bank $2.2 billion is seeking to appeal his conviction.

Kweku Adoboli was convicted of two counts of fraud in November and sentenced to seven years in prison.

Prosecutors said the London-based trader, now 32, exceeded his trading limits and failed to cover his losses, then faked records to cover his tracks. They called it the biggest bank fraud ever seen in Britain.

Adoboli claimed he had been trying to help the bank survive the financial crisis.

The court said Friday that Adoboli had filed an application for permission to appeal in December.

A judge will now decide whether permission should be granted. No date has been set for a hearing.

[Associated Press]

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Civic

< Top Stories index

Back to top


 

News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries

Community | Perspectives | Law & Courts | Leisure Time | Spiritual Life | Health & Fitness | Teen Scene
Calendar | Letters to the Editor