The Telegraph - Harry Wilson, 10/2/12
A former UBS trader wept in court as he gave evidence at the trial of alleged "rogue trader" Kweku Adoboli.
Former UBS trader, Kweku Adoboli, is accused of making unauthorised trades that cost UBS $2.3bn Photo: Neil Hall/Reuters
A former colleague of the UBS “rogue trader” accused masterminding a fraud that cost the bank $2.3bn (£1.43bn) wept in court as he admitted to making unauthorised trades.
John Hughes, 30, told Southwark Crown Court that he had also made unauthorised trades while working as a trader on UBS’ exchange traded funds desk.
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Comments
I actully feel sorry for some
I actully feel sorry for some of these guys-- they were just following orders from their superiors. The real question remains: Why will the real "boogy men" set up for trial or some sort of conviction? It isn't fair that someone like him goes down for what he was told to do.
Not that he doesn't have a mind, he does. He knew what he was doing was wrong. However, there are bigger fish to fry... and it needs to be completed or the whole scenerio can start over again.
I really don't get the point
I really don't get the point why cases like this is so hard to solve.