UBS accused hires law firm that acted for Nick Leeson

16th September 2011, Comments 0 comments

The UBS trader charged over an alleged $2 billion fraud will be represented by the law firm that acted for British banker Nick Leeson who brought down Barings Bank in the 1990s, a spokeswoman said Friday.

Kweku Adoboli, 31, who was remanded in custody Friday after being charged with fraud and and two counts of false accounting, will be represented by Kingsley Napley, which specialises in financial market cases.

"We can confirm he has hired Kingsley Napley," a spokeswoman told AFP.

Leeson was represented by the firm following his arrest in 1995 after his fraudulent trading caused the collapse of Barings, Britain's oldest merchant bank. He was sentenced to six and a half years in prison.

At Adoboli's first court appearance at City of London magistrates court on Friday, he was represented by Kingsley Napley lawyer Louise Hodges as the two charges of false accounting and one of fraud were read out to him.

He was remanded in custody at the hearing and will appear again next Thursday.

Sources close to the case told AFP a central member of Adoboli's legal team will be Michael Caplan, one of Britain's top criminal solicitors.

Caplan has in the past successfully fought efforts to extradite former Chilean dictator Augusto Pinochet from Britain and advised the parents of British girl Madeleine McCann after they were named as suspects in her 2007 disappearance.

© 2011 AFP

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