Former UBS trader Adoboli loses deportation appeal

Former UBS trader Kweku Adoboli, who in 2012 was sentenced to seven years in prison for fraud, has lost his appeal against deportation to Ghana.

Adoboli was released last year after serving two-and-a-half years of his sentence and as a foreign national sentenced to more than four years now faces extradition to Ghana.

A crowdfunding page has been set up to help him fund his legal battle against extradition as he is prohibited from accepting any paid work in the UK due to his deportation order.

Adoboli’s advisers have estimated that his appeal could cost at least £75,000.

His Fundrazr page read: “We believe that Kweku’s deportation to Ghana is disproportionate, unjust and a breach of the essential human right to have our private and family lives respected. We would be devastated to lose him – effectively forever. The emotional damage it will do to Kweku is easy to imagine.”

At the time of the trial that began back in 2011, Adoboli – the son of UN diplomat – accepted responsibility for losses totalling $2.2bn at UBS, where he shared responsibility for a $50bn trading book and the judge and jury concluded he had committed no crime for personal financial gain.

Meanwhile, the Swiss bank was fined £29.7m and censured for creating the culture that resulted in the losses and the senior trader and supervisor on Adoboli’s desk was banned by the Financial Conduct Authority for his role in what happened.

Adoboli, who was born in Ghana and came to the UK aged 12, was formally banned from performing any function in relation to any regulated financial activity by the FCA in October 2015.