John Hughes, a former colleague of jailed City trader Kweku Adoboli, has founded the football betting site Bets of Mates.
Hughes, a witness for the prosecution in the recent case, worked at UBS at the same time as Adoboli who was sentenced to seven years in prison for gambling away £1.5bn of the Swiss bank's money.
Formed with his partners, business development manager Adam Haywood and York City footballer Dave McGurk, Bets with Mates enables groups of friends to bet against each other in a league.
The site, which carries the slogan "There’s always a winner", was conceived as the Bets with Mates founders watched the Champions League semi-final together in 2012.
