Former UBS trader Kweku Adoboli has been released on bail in the alleged rogue trading case that led to the bank losing £1.3 billion.
He requested and was granted bail last Friday (8 June) at a hearing at Southwark Crown Court in London, and is being released with an electronic tag from Wandsworth Prison today.
Adoboli’s lawyer Giles Bark-Jones, of Bark & Co Solicitors, told the BBC: “Our client is both emotional and delighted at the outcome of [the] bail hearing. He looks forward to working on his case at our London offices.”
Earlier this year, Adoboli denied two charges of false accounting and two of fraud.
A provisional trial date has been set for 3 September.
Adoboli has previously apologised for his "disastrous miscalculations". The charges of false accounting were for the period between October 2008 and September 2011, and those of fraud for the three months to September 2011.
UBS has admitted that certain internal controls were not in place at the time that Adoboli allegedly ran up a $2 billion (£1.3 billion) loss on the bank's derivatives desk.
It followed a memo that interim chief executive Sergio Ermotti sent to employees saying that the bank was aware that its IT systems did detect the rogue activity but that "this was not sufficiently investigated nor was appropriate action taken to ensure existing controls were enforced".