+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Ex-UBS trader Kweku Adoboli has lost his extradition appeal

Jul 20, 2016, 12:31 IST

Kweku Adoboli gestures to photographers as he arrives at Southwark Crown Court on September 18, 2012 in London, England.Getty

Kweku Adoboli, the former UBS rogue trader, lost an appeal against deportation from the UK to Ghana.

Adoboli was sentenced to seven years in prison for fraud in 2012 relating to a trading loss of $2.3 billion (£1.4 billion) during the height of the eurozone sovereign debt crisis.

He was released after serving two-and-half years of his sentence in several different jails, including an immigrant detention centre in Kent.

The Financial Conduct Authority banned Adoboli from working in financial markets and fined UBS £30 million for the systems and controls failures that led to the losses.

While his family is from Ghana, Adoboli has lived in the UK since the age of 12 and went to school in Yorkshire.

A crowdfunding page on Fundrazer.com has been set up to help raise cash for his appeal. He's raised about £10,000 of the £75,000 goal.

"We feel this is completely unfair and undervalues the profound lifelong relationships forged over 23 years, the reality that he has zero risk of reoffending, the very high price he has already been asked to pay, and the very real and unique positive contribution Kweku is already making to UK society," his crowdfunding page said.

The immigration tribunal said that "while he was socially and culturally integrated into the United Kingdom, his family was in Ghana" and that Mr Adoboli "had not established that there would be very significant obstacles in his reintegration into life in Ghana," according to a BBC report.

NOW WATCH: Billionaire private-equity CEO David Rubenstein says Britain will almost certainly go into a recession and the US may follow

Please enable Javascript to watch this video
You are subscribed to notifications!
Looks like you've blocked notifications!
Next Article