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Ghanaian allegedly involved in $2bn Swiss Bank fraud roots traced
Published On: August 16, 2011, 14:18 GMT
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Ghanaian allegedly involved in $2bn Swiss Bank fraud roots traced

Kweku Adoboli

The UK’s Daily Telegraph newspaper has confirmed that Kweku Adoboli, the thirty-one-year-old arrested in connection with the 2 billion dollar bank fraud at a Swiss Bank, UBS is a Ghanaian.

The paper says it has spoken to the father, John Adoboli, a retired UN diplomat said to be living in Tema.

Kweku Adoboli was arrested by police in the London office of UBS where he works on Thursday morning. News about the arrest which sent the bank’s shares tumbling has dominated the major international news networks since it broke.

The online edition of the Daily Telegraph Friday quotes comments from Kweku’s father, who said his son made a wrongful judgment and that the family is heartbroken because this is not their way of life.

The newspaper said Kweku earned a six-figure salary and spent his spare time travelling the world, building up his collection of Argentine boutique wines.

Born into a life of privilege Mr. Adoboli seemed to be thriving as a market maker at the Swiss Bank, UBS and paying Ł1,000 per week rent.

His former landlord told the Daily Telegraph that Mr. Adoboli was a very nice and polite guy and can’t believe it is him.

The former landlord also motioned that Mr. Adoboli made frequent trips to Ghana to see his parents and extended family.

His neighbours say Mr. Adoboli lived alone and would often bring pretty girls to his apartment. Others described him as a young, successful man, moving on up, having fun and making them jealous.

According to his neighbours, Mr. Adoboli had been working exceptionally long hours of the night in recent months, claiming they never saw him as he was always working at all hours.

The Daily Telegraph believes the first sign of trouble came when Mr Adoboli updated his Facebook page to say: “I need a miracle.” None of his colleagues, however, had an inkling that he was about to be arrested for what is potentially the city’s fraud of the century.

By his act, Mr. Adoboli is now considered carrying out the largest single fraud by a London-based trader.

Meanwhile, the BBC has reported that Kweku Adoboli has been charged with fraud.

He was due to appear at City of London Magistrates' Court Friday afternoon. The Financial Services Authority (FSA), the city regulator, is investigating why the Swiss bank did not identify the trades.

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