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Accused UBS Trader To Take The Stand, SocGen's Kerviel In Final Appeal

posted: 7 months ago

Kerviel with Beret

Former UBS trader Kweku Adoboli will start telling his side of the story in court on Thursday, seeking to convince a jury that he did not act dishonestly when he made the trades that cost the Swiss bank $2.3 billion.

Reuters reports that after listening quietly from the back of the London courtroom for six weeks as one after another of his former UBS colleagues took the witness stand, Adoboli is expected to begin giving evidence during the course of Thursday's hearing.

It will be the first time the 11 jurors hear the voice of the 32-year-old, British-educated Ghanaian, who used to work as a senior trader on the Exchange Traded Funds desk.

Hit the link below to access the complete Reuters article:

Accused UBS "rogue trader" to take stand in his defence

In the meantime, the news agency reports that former Societe Generale trader Jerome Kerviel said on Wednesday he would make a final appeal to the French Supreme Court against a three-year jail sentence for his role in the nation's biggest rogue-trading scandal.

Kerviel announced he would go to France's highest court after losing his first attempt to overturn the sentence for taking huge, risky bets that cost the bank $6.35bn and hit its reputation.

Hit the link below to access the complete Reuters article:

SocGen rogue trader Kerviel launches final appeal

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