A City trader accused of gambling away a record £1.4 billion in a banking fraud has been granted bail. Kweku Adoboli, 32, from Clark Street, Whitechapel, east London, is accused of losing the money while working for Swiss banking giant UBS. He denied two counts of fraud and two counts of false accounting at an earlier hearing but was remanded in custody.

1. UBS £1.4bn fraud
accused Kweku
Adoboli granted bail

2. City trader accused of gambling away a
record £1.4 billion in a banking fraud has
been granted bail.
Kweku Adoboli, 32, from Clark Street,
Whitechapel, east London, is accused of
losing the money while working for Swiss
banking giant UBS.
He denieA d two counts of fraud and two
counts of false accounting at an earlier
hearing but was remanded in custody.

3. Today after a bail hearing held behind
closed doors at Southwark Crown Court,
Adoboli was granted bail on the
condition that he must reside at a
friend's house and abide by a curfew
enforced using an electronic tag.
A sum of surety, put up by friends but
which was not disclosed publicly, was
also imposed.
Adoboli was said to be "delighted" to
have been given bail.

4. He is due to stand trial in September with
Tim Harris' Experience
Solicitor
Bark & Co Solicitors
a possible preliminary hearing scheduled
Partnership; 11-50 employees; Law Practice industry
March 2009 – Present (3 years 4 months) for July 20.
I have a broad practice specialising in business and white collar crime.
PA
I act for Kweku Adoboli (UBS). I also act for a client involved in a highly publicised FSA insider-dealing investigation as well as acting for a director in the FSA’s largest prosecution to
I defend clients investigated or charged with all forms of dishonesty offences, bribery / corruption and breaches of FSMA / insider dealing.
I act for corporate clients and individuals in civil proceedings featuring allegations of fraud, breach of trust and fiduciary duty.