The guy who gamble away £1.4billion jailed for 7 years

 UBS fined £30million for 'seriously defective' controls

REMEMBER HIM?

After being educated at the £26,000-a-year Ackworth School in West Yorkshire, Adoboli toyed with becoming a chemical engineer. But he accepted an offer from the University of Nottingham to study a degree in e-commerce and digital business.

After graduating he was lured to UBS with tales of the millions that could be made. Despite his penchant for partying, he did well at the bank and was transferred from the back office to a trading desk in 2006.

He was given a £360,000 package of salary and bonuses, promoted to a crack ‘Delta One’ team within UBS and put in charge of a £30billion trading book.

The banker used his salary to fund the freewheeling lifestyle typical of a brash City trader, holding raucous parties at his £1,000-a-week loft apartment.
But it was there that his ‘naked gambling’ ran out of control. He wiped £2.8billion off the bank’s share price and threatened the jobs of many of his colleagues as the City struggled to recover from the recession.
A police officer who investigated the fraud said Adoboli’s actions were ‘felt in financial centres around the world’.
His losses would have been enough to pay a year’s salary for 70,000 nurses or build six hospitals.
They also dwarf the £827million lost by rogue trader Nick Leeson, who brought down Barings Bank in the early 1990s.