Home > News > Court of Appeal halts challenge to UBS rogue trader’s deportation

On 28 June 2018, the Court of Appeal (Lewison LJ) refused permission to appeal in respect of the decision to deport UBS rogue trader, Kweku Adeboli. Mr Adeboli had previously been employed as a trader by UBS. In 2012, he was sentenced to seven years’ imprisonment on two counts of fraud by abuse of position. The convictions related to unauthorised trading which resulted in the biggest trading loss in British banking history – some $2.25 billion (approximately £1.4 billion). The Financial Conduct Authority banned him from working in the City for life. UBS was later fined £29.7 million for related systems and control failures related to unauthorised trading losses.

After his appeal was dismissed by the First-tier and Upper Tribunal, Mr Adeboli sought to rely on separate judicial review proceedings to stay his onward appeal to the Court of Appeal. He also sought to argue that the Tribunals had erred in law in not accepting that he should be allowed to remain in the UK to assist in education and training on better regulation of the banking sector. At an oral hearing on 28 June 2018, Lewison LJ dismissed his application for permission to appeal.

Press coverage of the proceedings can be found here.

David Blundell represented the Secretary of State for the Home Department.

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