British authorities on Wednesday deported 38-year-old Ghanaian, Kweku Adoboli convicted of the UK’s biggest fraud.
Mr Adoboli was re-arrested on Monday before his deportation to Ghana. He was granted bail last month after more than 30 days in detention pending his deportation.
His deportation happened despite a long campaign to keep him in Britain.
Adoboli’s lawyer has confirmed that his client was flown out of Heathrow Airport on Wednesday evening after being detained in Scotland on Monday.
The BBC reports that Mr Adoboli’s local MP, Hannah Bardell, said the Ghanaian was “struggling not to break down” during his deportation.
Hannah Bardell has campaigned to have Adoboli kept in the UK but failed at that advocacy.
Bardell is quoted by the BBC as saying that “This is a travesty of justice. Kweku has been here since he was 12 and he would have been entitled to British citizenship”.
“No one is saying he hasn’t committed a crime, but he has been rehabilitated and is being punished twice,” Bardell added.
Adoboli served four years of a seven-year sentence for a £1.4 billion fraud at Swiss bank UBS.
What Adoboli did
Adoboli joined UBS’s London office as a graduate trainee in September 2006. After working for two years as a trading analyst in the bank’s back office, he was promoted to a Delta One trading desk.
Beginning in 2008, Adoboli started using the bank’s money for unauthorized trades. He entered false information into UBS’s computers to hide the risky trades he was making.
He exceeded the bank’s per-employee daily trading limit of US$100 million and failed to hedge his trades against risk.
In mid-2011, UBS launched an internal investigation into Adoboli’s trades. On 14 September 2011, Adoboli wrote an e-mail to his manager admitting to booking false trades.
His trades cost the bank $2 billion (£1.3 billion) and wiped off $4.5 billion (£2.7 billion) from its share price. The trading losses he incurred while trading for his bank were the largest unauthorized trading losses in British history.
Source: Africafeeds.com
