“A trader accused of losing $2.3 billion in a fraud at Swiss bank UBS goes on trial in London on Monday in a case expected to once again put the supervision of bankers under the spotlight. Ghanaian-born equities trader Kweku Adoboli denies two counts of fraud and two of false accounting between 2008 and September last year. The son of a Ghanaian former United Nations official, Adoboli worked for the global synthetic equities division at UBS in the City of London financial district. The true magnitude of the risk exposure had been hidden through ‘fictitious’ positions allegedly taken by the trader, the bank said.”
http://www.rawstory.com/rs/2012/09/10/rogue-trader-goes-to-court-in-2-3-fraud-trial/
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