Kweku Adoboli, 31 year old ETF trader held over $2bn rogue trade

Looks like one of the rioters I saw in London a few weeks back...

Now it figures.

 

maybe this is the "trading place" movie in reality

 

At first, I thought he lost it on some ultra-exotic weather and/or energy based contract that was hand-built and hard to price until it finally had to be marked to the real market.

For the bank's sake I hope they are not suggesting he lost it on ETF's. ETF's are beyond simple to track and margin.

Yet, many are now pointing at ETF's as unsuitable investments.

 

UBS should have sent this to spam:

CONFIDENTIAL

Dear Sir,

Good day and compliments. This letter will definitely come to you as a huge surprise, but I implore you to take the time to go through it carefully as the decision you make will go off a long way to determine the future and continued existence of the entire members of my family.

Please allow me to introduce myself. My name is Kweku Adoboli, the oldest son of the late head of state and commander in chief of the armed forces of the federal republic of Nigeria who died on the 8th of June 1998.

My ordeal started immediately after my father's death on the morning of 8th June 1998, and the subsequent take over of government by the last administration. The present democratic government is determined to portray all the good work of my late father in a bad light and have gone as far as confiscating all my late father's assets, properties, freezing our accounts both within and outside Nigeria. As I am writing this letter to you, my brother Mohammed Abacha is undergoing questioning with the government. All these measures taken by past/present government is just to gain international recognition.

I and the entire members of my family have been held incommunicado since the death of my father, hence I seek your indulgence to assist us in securing these funds. We are not allowed to see or discuss with anybody. Few occasions I have tired traveling abroad through alternative means all failed.

It is in view of this I have mandated DR GALADIMA HASSAN, who has been assisting the family to run around on so many issues to act on behalf of the family concerning the substance of this letter. He has the full power of attorney to execute this transaction with you.

My late father had/has Two Billion USD ($2,000,000,000.00) specially preserved and well packed in trunk boxes of which only my father and I knew about. It is packed in such a way to forestall just anybody having access to it. It is this sum that I seek your assistance to get out of Nigeria as soon as possible before the present civilian government finds out about it and confiscate it just like they have done to all our assets.

I implore you to please give consideration to my predicament and help a son in need.

May Allah show you mercy as you do so?

Your faithfully,

Dr Kweku Adoboli

N/B: Please contact Dr Galadima Hassan on this e-mail address for further briefing and modalities

 

FB page is down, lol.

 

Big business likes to have a few token black people working for them. Gets the PC Nazis somewhat off their backs.

 

i needed a good laugh


He celebrated his 30th birthday last year in his rented flat in Shoreditch with a large party. “His flat was very, very impressive,” said one guest. “It was a bit of a bling flat to be honest.”



In the good old days, the worst he would have been able to do is waste a few stamps.

What am I laughing at ..................

 

A 2003 graduate from Nottingham University, where he studied computer science, Mr Adoboli began working at UBS in London in 2006.

Before Nottingham, he attended Ackworth School in West Yorkshire, a co-educational boarding and day school founded by Quakers in 1779. “High standards are set academically, in sport, the arts and in the personal lives of every pupil and member of staff,” says the school’s website.

A former colleague of Mr Adoboli’s said he was well regarded by his fellow staff.

“He came across as someone who worked quite hard to get where he was and played quite hard too,” said the acquaintance.

 

Why does facebook do that? I mean everytime someone steals 2 billion dollars, facebook feels the need to pull their profile.

 

Making fun of the guy/making racist comments does not really help the situation.. nor answer underlying questions about position limits, internal controls that should have been conducted by UBS.


ET losers need a laugh too; they cant be the only ones getting made fun of