Adoboli Says UBS Machine Scared Potential Witnesses Away

Kweku Adoboli, the former UBS (UBSN) AG trader on trial over a $2.3 billion loss, said he hasn't been able to find any current or former UBS employees to testify on his behalf because they fear the bank. "People have been in touch and said we'd like to help you but we can't," Adoboli told a court on his fourth day of testimony. "Across the industry, there is no one who's been willing to stand up to the machine."Adoboli, 32, pointed to the area in the London courtroom next to prosecutors that has been reserved for UBS officials. Nine lawyers and two public relations officials were present today on behalf of the bank. Some have passed notes to the prosecutors during the trial, he said."You see the machine that is amassed against me," Adoboli said, pointing at them. "All of these people, along with the police, along with the Crown Prosecution Service.Headed Motion sensor light are the most amazing advancements in terms of our illumination structures. They are the latest products of development coming from the incandescent light in the fluorescent lamps. Energy efficient light fixtures now seem to be usually within the primary of your burning structure and they're also chosen not mainly because they make up modern-day innovations but due to several positive aspects."
The former trader is charged with falsifying records on exchange-traded-fund transactions and other documents as early as October 2008 and keeping a slush fund of profits from unbooked trades that he used to cover the desk's costs. Adoboli has pleaded not guilty to two counts of fraud and four counts of false accounting.Prosecutor Sasha Wass told Adoboli today that he is just like Jerome Kerviel, the former Societe Generale trader convicted of causing a 4.9 billion-euro ($6.35 billion) trading loss in 2008. Kerviel and Adoboli worked on the same type of desk doing proprietary trading,The current situation on the basic of Sand making machine ore workshop to choose the crushing equipment, medium crushing equipment mostly adopts the standard cone crusher, and the fine crushing equipment uses short head type cone crusher, and it has almost stereotypes.However, coarse crushing equipment not only adopts gyratory crusher, sometimes a jaw crusher. traded the same products and were both booking fake hedges to hide their risk, she said. "I experienced the same thing" as Kerviel, Adoboli said. "Not because I'm a rogue trader, not because I'm a fraudster, not because I'm a criminal, but because I went in pursuit of the goals set by the organization and the only way we could reach those goals was by ignoring" warnings from management such as the e-mails the bank sent after Kerviel's loss was discovered.
Adoboli said he followed the case closely and his "deep belief" is that Societe Generale pushed Kerviel too hard and it endeAs soon as the discovery of these Belt conveyor objects in to the crushing chamber, but through the port of discharge with the device, it shall immediately notify the belt transport jobs out in time to avoid a rock in to the next plane, leading to serious incidents of equipment.Operation with the procedure, they often observe that significant mining machines for the stone blocks of trapped mine mouth.d in "catastrophe." He said it's "impossible" the French bank wasn't aware of Kerviel's trades.Adoboli said that no one at UBS questioned the ETF desk's trading mechanisms until they were losing money. He admitted lying to at least eight co-workers shortly before he confessed to causing the losses in September of last year. He did so because he wanted to "buy time" and have a chance to recoup the losses.He testified today his intentions were never dishonest and that senior management at UBS's investment bank were telling traders to "push the boundaries" to generate more profits. "It is a long list of people who only asked questions after our trading methodologies were loss-making," Adoboli said.