Ex-UBS Trader Adoboli Leaves Prison as He Awaits Trial in London
Kweku Adoboli, the former UBS AG (UBSN) trader accused of causing a $2.3 billion loss for the bank from unauthorized trading, left prison yesterday after meeting bail.
Adoboli, 32, was released from Wandsworth prison in southwest London in a McDonald’s parking lot last night, his law firm, Bark & Co., said in a post on Twitter. He is staying at a friend’s apartment in the British capital, said his lawyer, Tim Harris.
Adoboli had been in custody since his Sept. 15 arrest. He was granted bail at a hearing last week and will have to wear an electronic monitoring device and have a curfew as part of the conditions. He also surrendered his passport. Harris declined to comment on the bail amount.
Adoboli, who worked for the investment bank’s Delta One desk, has pleaded not guilty to fraud and false accounting for allegedly causing the loss, the largest from unauthorized trading in British history.
A trial is scheduled in September.
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