(LONDON) — Swiss banking giant UBS said Thursday that a rogue trader has caused it an estimated loss of $2 billion, stunning a beleaguered banking industry that has proven vulnerable to unauthorized trades.
Police in London said they arrested a 31-year-old UBS trader, Kweku Adoboli, in the alleged fraud. UBS declined to confirm his name.
1 comment:
I personally know how the average American thinks.They,as I,view 2 billion dollars as a staggering amount.The truth is,Adaboli is the equivalent of a street corner crack dealer as opposed to a drug kingpin.He is a pawn in a worldwide monetary manipulation scheme.He is nothing but a fall guy and does not even know it.
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