UBS blames $2 billion loss on “rogue trader”

posted by
September 15, 2011
Los Angeles Times    
Posted in News

"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." (09/15/11)  

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