So this is what payday loans are for!

Despite seeing £233,000 pass through his NatWest Bank account in the 12 months prior to his arrest Mr Adoboli’s account was overdrawn by £3,594 when he was arrested on September 15 last year, the court was told. Across his four banks accounts and two credit cards the 32-year-old trader owed £4,181.

His primary current account showed payments to eight pay-day loan companies including Wageday Advance, Wonga.com, Payday UK and Pounds to Pocket.

4 thoughts on “So this is what payday loans are for!”

  1. It makes reasonable sense that someone who wasn’t very good at trading on his personal accounts would also not be very good at trading for the company.

    If he’d been a bit more imaginative, of course, he could have used the company trades to drive up the price of his spread betting…

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