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Adoboli admits 'losing control' of trading positions

Jury in the case against Kweku Adoboli hears that the former UBS trader lost his 'ability to think rationally'

Kweku Adoboli, the ex-UBS trader standing trial for fraud and false accounting, has admitted to having lost control of his trading activities in the period that led up to the multi-billion dollar loss at the Swiss bank last year.

Giving evidence in his defence for a third day at Southwark Crown Court in London, the Ghanaian-born former trader told the court: "I absolutely lost control. I was no longer in control of the decisions around the trades we were doing." The jury also heard Adoboli admit at one point that "my ability to think rationally and deeply was gone".

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