A former colleague of Kweku Adoboli, the ex-UBS trader found guilty of fraud yesterday after losing $2.3bn from unhedged trades at the Swiss bank, has launched a new company – an online betting platform.
John Hughes, a senior trader who worked on UBS's exchange-traded funds desk with Adoboli during the period that Adoboli carried out unauthorised trading activities, has launched a company called BetsofMates.com.