British trader accused of losing record £1.5bn

A City trader accused of gambling away a record £1.5bn (€1.81bn) in Britain’s biggest banking fraud has appeared in court today.

Kweku Adoboli (aged 31) from Clark Street, east London, will go on trial later this year accused of losing the money while working for Swiss banking giant UBS.

He has denied two counts of fraud and two counts of false accounting at an earlier hearing.

A further administrative hearing has been fixed provisionally for June 8 with another possible hearing on July 20.

A provisional trial date has been set for September 3.

Adoboli, who wore a grey suit and dark blue tie for the hearing at Southwark Crown Court in London, was remanded in custody.