Posted on 09/15/2011 5:40:05 PM PDT by george76
A suspected rogue trader accused of a staggering £1.3billion fraud told friends he needed ‘a miracle’ days before he was arrested.
Kweku Adoboli, 31, posted a desperate last message on Facebook as he tried to recover enormous losses he had run up through illegal trading.
Detectives detained Adoboli, who works for Swiss banking giant UBS, during a 3.30am raid yesterday at his luxury London flat.
The Ghanaian, who was privately educated in Britain and is the son of a retired UN worker, is accused of being responsible for the biggest loss ever accrued by a single trader based in London...
It equates to about the same amount UBS is seeking to save by cutting 3,500 jobs worldwide.
Speculation was mounting that he may have been caught out after the Swiss Central Bank unexpectedly devalued the franc last week, producing mammoth losses on one of his currency trades.
It was then that Adoboli’s final Facebook message, believed to have been left on Tuesday, September 6, read: ‘Need a miracle.’
Adoboli’s boss John Hughes is reported to have quit his job in the aftermath of the scandal. Sources said he would have faced serious questions about supervision of staff.
(Excerpt) Read more at dailymail.co.uk ...
Next message will read “Need Vasoline”.
If you can’t make a billion, it’s almost as good to beable to say that you lost a billion.
Won’t do much for the resume though.
The last guy trader who lost this much money, a few years ago, got a three year prison sentence.
Three years! I think petty theft carries a heavier penalty.
I just meant the last guy or the last trader! Sorry for not proofreading.
Apparently he is not “too big to fail” or he would be available for bailout funding.
Why are we not shocked by the Ghana connection/UN?
PUHLEEZE!
Plying the family trade, I guess.
I “Need a new screen”.
“It equates to about the same amount UBS is seeking to save by cutting 3,500 jobs worldwide.”
1.3 Billion lost?? Must be a newbee.. Heck, Us spent 38 Billion and gained just 3500 jobs.. Whats the wage in the UK anyway??
That’s gonna set back racial quotas in Swiss hiring a hundred years or so.
Sorry Kweku.
Everybody knows God only protects idiots, drunks, and America.
That would explain the ‘Ghanian’ emails I started receiving...
I'd bet that had he made a billion, he'd be a UBS hero.
I’m sure the trader was completely unsupervised and was allowed to trade billions of company dollars without anyone looking at this as unusual. How is the guy going to succeed if he isn’t allowed to fail along the way. I’m sure he will be a much better trader for the experience.
“If you can’t make a billion, it’s almost as good to beable to say that you lost a billion.
Won’t do much for the resume though.”
Don’t you know that our Leftist federal government rewards those who screw up? This guy would be hired in a flash by the Obama administration!
This idiot chile from Ghana reminds me of Bammy Boy. Anyways it is usually white boys who blow a few hundred million at the trading desk. This Ghanian shyt_fer_brains got his chance too
Not just woeking for the administration, you become president. :(
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