LONDON (AP) — Britain's Court of Appeal says a former UBS trader found guilty of a fraud that lost the Swiss bank $2.2 billion is seeking to appeal his conviction.
Kweku Adoboli was convicted of two counts of fraud in November and sentenced to seven years in prison. Prosecutors said the London-based trader, now 32, exceeded his trading limits and failed to cover his losses, then faked records to cover his tracks. They called it the biggest bank fraud ever seen in Britain.
Adoboli claimed he had been trying to help the bank survive the financial crisis. The court said Friday that Adoboli had filed an application for permission to appeal in December. A judge will now decide whether permission should be granted. No date has been set for a hearing.