Ex-UBS trader John Hughes today broke down in tears as he was shown an email sent by his former colleague Kweku Adoboli, in which Adoboli purportedly admitted he had booked trades without counterparties.

Hughes, who has faced nearly a week of questioning as a witness in the criminal trial against Adoboli, said that it was the first time he had seen the email, which was apparently sent on September 14 last year.