UBS trader denies gambling £1.5 billion in Britain's biggest banking fraud - Telegraph.co.uk

A pre-trial management hearing will take place on April 9.

Adoboli worked for UBS's global synthetic equities division, buying and selling exchange traded funds, which track different types of stocks, bonds or commodities such as metals.

He is accused of dishonestly using his position to try to make a personal gain, and causing UBS losses or exposing the bank to the risk of loss.

City watchdog the Financial Services Authority and its Swiss counterpart have launched an investigation into why UBS failed to spot allegedly fraudulent trading.

Charges relate to the period between October 2008 and last September.

Prosecutors allege he gambled away the cash while buying and selling exchange traded funds.

Adoboli has hired London law firm Bark & Co, which specialises in fraud cases, and is represented by Paul Garlic QC.