Former UBS trader Kweku Adoboli was today sentenced to seven years in jail after being found guilty of two counts of fraud in connection with the $2.3bn trading loss incurred by UBS in September 2011.

Adoboli, who had worked on UBS's London exchange-traded funds desk until his arrest in September last year, had pleaded not guilty to two charges of fraud and four of false accounting in a criminal case that began in London's Southwark Crown Court in September.