This is nothing new is it?
http://www.bbc.co.uk/news/business-14950873
I understand that the bank 'claim' he was trying to profit from unauthorised deals. If that is the case then the arrest would be justified.
On the other hand, it seems he approached his bosses to tell them he had cocked up big time. He wasn't found out, he confessed to his bosses.
Maybe it is simply he realised a shed load of trouble was about to descend on him and he 'fessed up'' in an attempt to garner some degree of mitigation.
A more likely scenario is that the banks gave him and other like him (Nick Leeson for example) complete free reign to do what they want in the hope and expectation of huge paper profits. If he had come clean to his unauthorised trading but had MADE a quick billion does anyone imagine he would be in any kind of trouble. Let alone getting himself arrested. A pat on the back and some kind of promotion is about par for the course.
So, if, as it seems with Nick Leeson, he was trading outside his authority and making massive losses, not for personal gain, but on behalf of the bank the question is why would the police be involved? Surely it is nothing other than an internal matter.
Can you imagine Mr Bloggs in the corner shop calling in the police if Billy on the sweets counter decided to order not his usual £20 worth of jelly babies but, under the impression he could sell the lot ordered £20,000 worth?
The police would rightly say it's a civil matter.............'he works for you and if he ordered stuff he shouldn't have why weren't you keeping an eye on him because he is obviously dim'.
If Mr Adoboli's crap trading was solely on behalf of the bank with no obvious 'personal' benefit expected surely he should walk.
http://www.bbc.co.uk/news/business-14950873
I understand that the bank 'claim' he was trying to profit from unauthorised deals. If that is the case then the arrest would be justified.
On the other hand, it seems he approached his bosses to tell them he had cocked up big time. He wasn't found out, he confessed to his bosses.
Maybe it is simply he realised a shed load of trouble was about to descend on him and he 'fessed up'' in an attempt to garner some degree of mitigation.
A more likely scenario is that the banks gave him and other like him (Nick Leeson for example) complete free reign to do what they want in the hope and expectation of huge paper profits. If he had come clean to his unauthorised trading but had MADE a quick billion does anyone imagine he would be in any kind of trouble. Let alone getting himself arrested. A pat on the back and some kind of promotion is about par for the course.
So, if, as it seems with Nick Leeson, he was trading outside his authority and making massive losses, not for personal gain, but on behalf of the bank the question is why would the police be involved? Surely it is nothing other than an internal matter.
Can you imagine Mr Bloggs in the corner shop calling in the police if Billy on the sweets counter decided to order not his usual £20 worth of jelly babies but, under the impression he could sell the lot ordered £20,000 worth?
The police would rightly say it's a civil matter.............'he works for you and if he ordered stuff he shouldn't have why weren't you keeping an eye on him because he is obviously dim'.
If Mr Adoboli's crap trading was solely on behalf of the bank with no obvious 'personal' benefit expected surely he should walk.