UBS's Alleged Rogue Trader Compared To Spartacus

Judge Me Not

The lawyer representing Kweku M. Adoboli, a former UBS trader standing trial on fraud allegations, on Monday likened his client to Spartacus, the main character in the 1960 Hollywood movie about a Thracian slave.

The New York Times reports that in his closing remarks to the jury, Charles Sherrard said Mr. Adoboli was like Spartacus, who was portrayed by the actor Kirk Douglas, because he stepped forward to take the blame. But unlike in the movie, where Spartacus’s fellow gladiators all claimed to be Spartacus to avoid his being singled out for punishment, Mr. Adoboli’s team members were only too happy for him to take responsibility.

The only difference to Spartacus, Sherrard claimed, what that when his client stood up to take responsibility, no-one else joined him.

In the meantime, Reuters reports that the judge in the trial told the jury on Monday not to let their views about the banking industry influence their judgment.

Adoboli, 32, has been blamed for a loss of $2.3bn that UBS incurred in September 2011. He denies two counts of fraud by abuse of position and four of false accounting.

'Do not let what you think about banks and the people who worked for them influence you unduly either way', the judge instructed.

Lawyer for Former UBS Trader Likens His Client to Spartacus

UBS "rogue trader" jury warned against anti-bank bias

image: © Steve Punter

Register for Financial Markets News Alerts