Police: UBS fraudster Kweku Adoboli 'out of control'

A City trader who lost £1.4bn ($2.2bn) of Swiss bank UBS's money has been found guilty of two counts of fraud.

Kweku Adoboli, 32, of Whitechapel, east London, denied four charges of false accounting and two of fraud between October 2008 and September 2011.

The prosecution told Southwark Crown Court he was "a gamble or two away from destroying Switzerland's largest bank".

Adoboli, who was cleared of four charges of false accounting, was jailed for seven years.

Det Insp Steve Head, from the City of London Police, described Adoboli as a trader who was "running completely out of control and exposing UBS to huge financial risks on a daily basis".