UBS Trader Hires Same Law Firm That Represented Nick Leeson

Nick Leeson

The alleged UBS rogue trader Kweku Adoboli hired the same law firm that represented the infamous rogue trader Nick Leeson, Bloomberg BusinessWeek reported.Adoboli hired lawyers from Kingsley Napley LLP, the same firm that represented Leeson, a derivatives broker at Barings Bank where his unauthorised trading on Nikkei futures accumulated losses of $1.3 billion in 1995 which led to the collapse of the U.K.’s oldest merchant bank.

Leeson is getting a lot of publicity because years ago, he was sentenced to five years in a Singapore prison for a rogue trade.  Now he gets paid to give keynote speeches on corporate responsibility. And this weekend, he’s getting an “inconvenience fee” for talking to the media about Kweku Adoboli’s mess up.

Adoboli, 31, who used to work for the firm’s Delta One client-trading desk, was arrested yesterday in London for losing the Swiss bank $2 billion with his unauthorised trades.

He was officially charged Friday with fraud and false accounting.

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