BROWSE BY TOPIC
- Bad Brokers
- Compliance Concepts
- Investor Protection
- Investments - Unsuitable
- Investments - Strategies
- Investments - Private
- Features/Scandals
- Companies
- Technology/Internet
- Rules & Regulations
- Crimes
- Investments
- Bad Advisors
- Boiler Rooms
- Hirings/Transitions
- Terminations/Cost Cutting
- Regulators
- Wall Street News
- General News
- Donald Trump & Co.
- Lawsuits/Arbitrations
- Regulatory Sanctions
- Big Banks
- People
TRENDING TAGS
Stories of Interest
- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
- Catherine Keating Appointed CEO of BNY Mellon Wealth Management
- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
- SEC Chair Clayton Goes 'Hat in Hand' Before Congress on 2019 Budget Request
- SEC's Opening Remarks to the Elder Justice Coordinating Council
- Massachusetts Jury Convicts CA Attorney of Securities Fraud
- Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm
- World’s Biggest Hedge Fund Reportedly ‘Bearish On Financial Assets’
- SEC Fines Constant Contact, Popular Email Marketer, for Overstating Subscriber Numbers
- SocGen Agrees to Pay $1.3 Billion to End Libya, Libor Probes
- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
- NYSE Says SEC Plan to Limit Exchange Rebates Would Hurt Investors
- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
ABOUT FINANCIALISH
We seek to provide information, insights and direction that may enable the Financial Community to effectively and efficiently operate in a regulatory risk-free environment by curating content from all over the web.
Stay Informed with the latest fanancialish news.
SUBSCRIBE FOR
NEWSLETTERS & ALERTS
Former UBS 'Rogue' Trader Out On Bail
June 8, 2012
[ by Howard Haykin ]
The former UBS trader, charged with false accounting related to a $2.3 billion trading loss, has had his photograph plastered so often in the media that he's recognized worldwide, though few can identify him by name. Kweku M. Adoboli who still awaits trial, was granted bail by a London court on Friday. An earlier bail application by Mr. Adoboli was rejected in February.
Bark & Company's Tim Harris, who represents Mr. Adoboli, said his client was "delighted" and would like to thank family and friends for their support. He is expected to be released as early as Monday. Under terms of the release, Mr. Adoboli, 32, has a curfew but can stay at a friend’s house wearing an electronic tag. Financial terms of the bail arrangement were not disclosed.
Not Guilty Plea. Mr. Adoboli had pleaded not guilty to counts of false accounting and fraud. He was arrested in September 2011 after UBS alerted the police. The bank claimed that Mr. Adoboli had masked the billion dollar losses from internal controls with fictitious trades. Mr. Adoboli had remained in custody ever since his arrest.
This trading scandal case upended UBS AG and even led to the resignation of Oswald Grübel, its CEO.
Mr. Adoboli’s trial is set ... to start 9/3/12, and likely to last about 8 weeks. [Dealbook, 6/8/12]

