Rogue trader warning

Warning, warning!

The London trader who lost UBS $1.9bn has apologised and said that banking has not done enough to regain the public's trust.

BBC News reports that in his first broadcast interview, Kweku Adoboli told the BBC that banking was still riven by conflicts of interest.

He added that traders were pushed to make profits "no matter what".

Asked if the crimes he committed - booking fictitious trades to cover up gambles in the hunt for profits - could happen again, he said: "Absolutely".

Adoboli - the biggest rogue trader in British history and described by the prosecution at his trial as a "master fraudster" and "sophisticated liar" - now faces deportation to Ghana, where he was born.

He said he is fighting the order as he is as "British in culture" as anyone living in the UK and could help the finance sector to reform by sharing his experiences.

After coming out of prison a year ago, 36-year-old Adoboli, who has lived in Britain since he was 12, said he had been prevented from taking paid work.

He is living with friends in Edinburgh and speaks for free at banking compliance conferences.

To access the complete BBC News article hit the link below:

UBS rogue trader: 'It could happen again'

Kweku Adoboli: From 'rising star' to rogue trader

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