Lindsay Fortado

Ronald Greenidge, the former UBS AG managing director fired for gross misconduct in his supervision of convicted trader Kweku Adoboli, sued the bank claiming it treated him more harshly than others because he’s black.

Former UBS AG trader Kweku Adoboli was sentenced to seven years in jail for fraud in relation to a $2.3 billion loss, the largest from unauthorized trading in British history.

Former UBS AG trader Kweku Adoboli was found guilty of fraud in relation to a $2.3 billion loss, the largest from unauthorized trading in British history. He was cleared on four counts of false accounting.

It is “a fantastical suggestion” that the bank and its management knew and approved of Adoboli exceeding risk limits, prosecutor Sasha Wass told the London jury in closing arguments Thursday.

Kweku Adoboli, the former UBS AG trader on trial over a $2.3 billion trading loss, said his girlfriend encouraged him to confess his losses to managers while another trader on his desk told him to flee the country.

Kweku Adoboli's co-workers knew he was making fictitious trades, the former UBS AG banker told an attorney who interviewed him on the night of his arrest in September 2011.

UBS AG had a culture that overlooked trading limits and other rules "as long as you were making money," according to Kweku Adoboli's lawyers.