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  #121  
Old 20.11.2012, 19:53
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Re: UBS loses US$2bn in rogue trading

Former UBS trader Kweku Adoboli has been sentenced to seven years in jail by a London court after being convicted of two counts of fraud.

The jury acquitted Adoboli of four charges of false accounting but
found that the senior trader dishonestly abused his position.

He will serve half his sentence minus a year already spent in custody - a total of two-and-a-half years.

Swissinfo EN
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  #122  
Old 20.11.2012, 20:26
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Re: UBS loses US$2bn in rogue trading

Sentence is way to short should have thrown the book at him, locked him up and thrown th keys away
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  #123  
Old 20.11.2012, 20:34
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Re: UBS loses US$2bn in rogue trading

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Sentence is way to short should have thrown the book at him, locked him up and thrown th keys away
The Swiss courts prefer to save the long sentences for real criminals, like people who mow their lawns Sunday or don't keep to the washroom schedule.
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  #124  
Old 20.11.2012, 20:39
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Re: UBS loses US$2bn in rogue trading

This was a wimp British court not even in the court system in Switzerland
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  #125  
Old 20.11.2012, 21:06
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Re: UBS loses US$2bn in rogue trading

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Sentence is way to short should have thrown the book at him, locked him up and thrown th keys away
rrrright. that would really show UBS, eh?
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  #126  
Old 20.11.2012, 21:22
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Re: UBS loses US$2bn in rogue trading

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Sentence is way to short should have thrown the book at him, locked him up and thrown th keys away
The sentence is very harsh, most likely thought of as being a deterrent for others in similar positions. The finance-place London quite clearly wanted to give a clear signal to the financial world community.
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Old 21.11.2012, 00:18
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Re: UBS loses US$2bn in rogue trading

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The sentence is very harsh, most likely thought of as being a deterrent for others in similar positions. The finance-place London quite clearly wanted to give a clear signal to the financial world community.
And the clear message was ... if you are a large bank who will bring in tax dollars, we are willing to overlook quite a lot of what you guys do in there. if shit hits the fan, of course, you will offer a sacrificial lamb and we'll slap your wrist for some pocket change, and pretend justice has been served.
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  #128  
Old 21.11.2012, 00:26
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Re: UBS loses US$2bn in rogue trading

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And the clear message was ... if you are a large bank who will bring in tax dollars, we are willing to overlook quite a lot of what you guys do in there. if shit hits the fan, of course, you will offer a sacrificial lamb and we'll slap your wrist for some pocket change, and pretend justice has been served.
absolutely so ! To me, the simple fact that this man has to sit in prison while his superiors stay free is INjustice .... BUT had he succeeded he would have been THE big man.

In reality, he has been in prison for a year already and will be a free man within three years or less. A horrible thing for him, sure, but he has learnt so much that he will do something really successful as soon as he is out.
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