LONDON, March 1 Kweku Adoboli, a former trader
at UBS's London office who is serving a seven-year
jail sentence for a multi-billion-dollar fraud, has applied for
an appeal, a court official said on Friday.
Adoboli, 32, was convicted in November last year of two
counts of fraud over unauthorised trades that cost the Swiss
bank $2.3 billion.
During his trial, he admitted trading far in excess of
authorised risk limits and booking fictitious trades to hide his
true risk exposure, but had argued that everything he did was to
make profits for UBS and was in line with the bank's culture.
An official at the criminal division of the Court of Appeal
in London said Adoboli had filed an application against
conviction and sentence on December 21.
The official said that a single judge would consider whether
to grant Adoboli permission to appeal, and if permission was
granted the appeal would be heard by the full court. No
timetable has yet been set.
Adoboli's solicitor, Tim Harris, did not immediately respond
to a request for comment. Richard Morton, a spokesman for UBS in
London, declined to comment.