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Report: Former UBS trader loses appeal against UK deportation

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Report: Former UBS trader loses appeal against UK deportation

Former UBSGroup AG trader Kweku Adoboli, who in was to seven years in prison forfraud, has lost his appeal against being deported from the U.K., BBC Newsreported July 20.

UBS lost about $2.2 billion as a result of unauthorizedtrading by Adoboli, a Ghanaian national who has lived in Britain since he was 12.Under U.K. law, foreign nationals who receive prison terms of longer than fouryears are automatically considered for deportation, the news outlet noted.

The bank was fined £29.7 million in November 2012 for significantfailings related to the unauthorized trading. In October 2015, the U.K.Financial Conduct Authority banned Adoboli from working in the financial servicesindustry.

Adoboli said he will continue his fight against thedeportation, according to the report.