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Friday, September 16, 2011

Alleged UBS Rogue Trader Charged With Fraud

The 31-year-old UBS AG trader accused of costing the bank $2 billion in losses through unauthorized trades has been charged with fraud and false accounting, news reports said Friday.

The Associated Press said London police released a statement saying Kweku Adoboli had been charged with two offenses. The AP added that police said Adoboli would appear before magistrates later Friday and that the probe into the massive trading scandal was ongoing.

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1 comment:

lmclain said...

Ever hear of "internal controls"? I guess not....Iget the feeling that the whole story ain't getting told....