The trader in London at the center of a massive $2.3 billion trading loss was sentenced to seven years in prison today,Bottega Veneta Online Shop.

The former UBS trader, Kweku Adoboli, 32, was found guilty on two counts of fraud after a 10-week trail. A jury found him not guilty on four other charges related to accounting fraud.

Adoboli made news last September when UBS revealed one of its London-based traders made unauthorized trades that resulted in $2.3 billion loss for the company.

Adoboli took trading risks far beyond what was authorized at the bank,Bottega Veneta Online Shop, prosecutors argued. At one point last summer his bets exposed the bank $12 billion in losses even though his unit was only authorized to risk $100 million intra-day and $50 million overnight.

During the trial Adoboli’s lawyers argued that the risks were not taken for the trader’s own financial benefit, rather that they were done to make the bank money.

But the argument wasn’t strong enough to keep the trader out of jail. A judge told Adoboli today that “There is a strong streak of the gambler in you … You were arrogant enough to think that the bank’s rules for traders didn’t apply to you,” according to a Reuters report.

The Adoboli scandal hit an already vulnerable UBS which has been at the center of several major risk-management problems. The Swiss bank has been busy trying to repair its reputation which has been hurt by trading scandals, , subprime mortgage writedowns and auction rate securities litigation.

The trading loss resulted in the resignation of its then CEO Oswald Grübel who had been the helm since 2009. The bank named Sergio P. Ermotti interim CEO as it searched for a replacement. However, UBS later announced Ermotti would remain head of the bank.

Since taking over Ermotti has announced some major changes in the bank’s strategy including a significant downsizing of its investment banking and trading businesses,Bottega Veneta Online Shop. Last month the Swiss bank said it would eliminate around 10,000 jobs in an effort to move away from its investment banking activity and focus on wealth management.

Other banks are making similar moves including whose co-CEOs announced this year that the bank would be downsizing investment banking activities resulting in 1,900 job cuts. Swiss-rival Credit Suisse has announced similar cost-cutting measures.