UBS 'rogue trader' Kweku Adoboli has been found guilty of a £1.4bn fraud.
The 32-year-old had denied committing Britain's biggest ever fraud while working for the Swiss bank during the global financial crisis.
The jury at Southwark Crown Court in London has convicted him of one count of fraud linked to the £1.4bn loss and is still deliberating on one further count of fraud and four counts of false accounting between October 2008 and September last year.
He bowed his head when the foreman of the jury gave the unanimous verdict of all 10 jurors.
Adoboli has admitted to the losses, but denied any wrongdoing.
During the two-month trial, he said senior managers were fully aware of his activities and encouraged him to take risks to make profits for UBS.
Adoboli wept as he gave evidence for the first time at his trial last month.
But prosecutors said Adoboli had exceeded his trading limits, failed to hedge trades and faked records to cover his tracks in a bid to boost his status and ego.
Prosecution lawyer Sasha Wass told jurors during the trial that he was "a gamble or two away from destroying Switzerland's largest bank for his own gain".
"Mr Adoboli's motive for this behaviour was to increase his bonus, his status within the bank, his job prospects and of course his ego," she said.
The Ghanaian-born TheTThThe Ghanaian-born Adoboli was a senior trader on the Exchange Traded Funds desk at UBS' investment banking arm in London and had worked for the bank for eight years.
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