UBS probe focused on Adoboli

The head of an internal UBS probe into "rogue trader" Kweku Adoboli, accused of losing the Swiss bank $2.3bn (£1.4bn), did not consider whether others at the bank might have been involved, a London court heard yesterday .However, Ruwan Weerasekera, chief operating officer of UBS's investment arm, said two other independent inquiries had looked into all aspects of the bank's involvement and had found no complicity among the bank's managers. Adoboli, 32, is on trial at Southwark Crown Court accused of two charges of fraud and false accounting, which he denies. His defence team argue he believed he was acting for the good of the bank and colleagues were aware of his activities. Weerasekera, who led UBS’s in-house investigation after Adoboli was arrested on 15 September last year, told the court his focus had been solely on the accused trader.