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Mr Kweku Adoboli was granted bail after a successful bail application at Southwark Crown Court. Mr Tim Harris, Solicitor on this matter said his client was "delighted, very emotional and would like to thank all his family and friends for their support”. Mr Adoboli is due to be released from Wandsworth prison on Monday pending the bail terms being satisfied.
Mr Giles Bark-Jones, partner at Bark & Co Solicitors said "Our client is both emotional and delighted at the outcome of today's bail hearing. He looks forward to working on his case at our London offices."
UBS 'rogue' trader Kweku Adoboli to be bailed
A City trader accused of a £1.4bn ($2.2bn) fraud at the London offices of Swiss banking giant UBS is to be freed from Wandsworth Prison on bail.
Kweku Adoboli, 32, will be released on Monday with an electronic tag ahead of his trial in September, a bail hearing at Southwark Crown Court heard.
He was "delighted" by the decision, his lawyer Giles Bark-Jones said.
The trader, who was arrested in September last year, denies two charges of false accounting and two of fraud.
Mr Bark-Jones told the BBC: "Our client is both emotional and delighted at the outcome of today's bail hearing. He looks forward to working on his case at our London offices."
Mr Adoboli, of Clark Street, east London, is accused of unauthorised trading while working for UBS's global synthetic equities division, where he bought and sold exchange traded funds.
About Bark & Co Solicitors
At Bark & Co our expert legal team has built an enviable reputation for the quality of representation, responsiveness to client needs, and high levels of client satisfaction. An original member of the Specialist Fraud Panel, Bark & Co are amongst the top firms in UK specialising in defending criminal and civil fraud, regulatory litigation, money laundering, insider dealing and cyber crime. Our civil department specialises in all aspects of HM Customs and Excise investigations including VAT and Duties Tribunals and have established a leading practice in the fields of cash and asset recovery.
Bark & Co maintain a market leading position in large scale, highly complex fraud cases that often cross international jurisdictions. Key to our success is a culture of matching the best legal expertise to our client requirements to ensure creative, effective, and convincing defence solutions.
Our client base ranges from large corporate's to individuals and we regularly defend against high profile investigations and prosecutions including those undertaken by the Serious Fraud Office (SFO), Financial Standards Authority (FSA) and the Serious Organised Crime Agency (SOCA) as well as other UK Government Authorities
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