LONDON Nov 12 The judge in the trial of alleged
UBS rogue trader Kweku Adoboli told the jury on Monday
not to let their views about the banking industry influence
Adoboli, 32, has been blamed for a loss of $2.3 billion at
the Swiss bank in September 2011. He denies two counts of fraud
by abuse of position and four of false accounting.
"You don't need me to tell you that this case has been no
ordinary trial," judge Brian Keith told the jury as he began his
summing-up, the final leg of the long-running trial before they
retire to consider their verdict.
"How could it have been when the man you're trying was an
apparently respectable trader at a famous investment bank whose
trading on behalf of the bank led to a loss so colossal that it
exceeded $2 billion?"
The prosecution say Adoboli traded far in excess of his risk
limits, concealed his positions with fictitious bookings and
lied to the back office. They say he was driven by a gambling
addiction and a desire to be a star trader.
Adoboli says he did not act dishonestly because everything
he did was aimed at making profits for the bank, because others
knew of his methods and in some cases used similar ones, and
because managers encouraged rule-bending in pursuit of profits.
"Don't let what some of you may think about banks and the
people who work for them influence you unduly," Keith told the
"There's been a lot of talk in recent years about the bonus
culture, failing banks having to be bailed out," he said, adding
that there were always two sides to every argument.
He told the jury they were not there to find someone
responsible at all costs for the loss that UBS had suffered.
They should not convict Adoboli just because they felt it would
be wrong for no one to be held criminally responsible for the
"You should not approach the case on the basis that banks
have only themselves to blame. You should not allow yourselves
to be deflected (by) views you have as to whether banks are a
force for good or a force for evil in our society," he said.
The judge will continue his summing-up on Tuesday.