A former UBS trader accused of carrying out a $2.3 billion “rogue trading” fraud has been given more time to consider his plea after changing legal teams.

Lawyers for Kweku Adoboli (31) said he was unable to enter a “proper and meaningful” plea because he was unhappy with the guidance he had received from the defence team he dropped last week.

Mr Adoboli’s next hearing is on January 30th. “I am certainly not satisfied that he has received adequate legal advice,” new defence lawyer Paul Garlick said, adding that Mr Adoboli would plead not guilty, if pressed to make an early decision. – (Reuters)