Bark & Co Solicitors

TRADER GRANTED BAIL IN $2

BILLION UBS CASE

A British court has granted bail to a

trader accused of fraud following a

$2 billion loss at UBS, Switzerland’s

largest bank.

Former UBS trader Kweku Adoboli was

granted bail after a closed door hearing

Friday at Southwark Crown Court. He has

pleaded not guilty to two counts of fraud

and two counts of false accounting between

2008 and 2011.

The amount of bail was not disclosed.

Adoboli must wear an electronic tag

and reside at a friend’s house under the

terms set by the court. He is due to

stand trial in September.