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By Lindsay Fortado and Jeremy Hodges, Bloomberg |
November 20, 2012
Former UBS AG trader Kweku Adoboli was found guilty of fraud in relation to a $2.3 billion loss, the largest from unauthorized trading in British history. He was cleared on four counts of false accounting.
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By Erik Larson and Lindsay Fortado |
October 16, 2012
According to criminal trial testimony, UBS AG fixed a loophole that former trader Kweku Adoboli allegedly used to conceal unauthorized transactions by giving them long-term settlement dates.
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By Lindsay Fortado, Bloomberg |
October 15, 2012
Tom Naratil, chief financial officer of UBS AG, said the Swiss bank fired as many as 550 employees after it suffered a $2.3 billion loss from unauthorized trading last year.
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By Lindsay Fortado, Bloomberg |
October 9, 2012
Kweku Adoboli booked tens of thousands of real and fake trades during the summer of 2011 that exposed UBS AG to losses that may have escalated to $12 billion within weeks, a bank executive told a London court.
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By Lindsay Fortado |
October 8, 2012
A colleague of Kweku Adoboli at UBS AG discussed a “slush account” with him in online chats after the former trader told him he was holding profits off the books.
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By Lindsay Fortado and Kitty Donaldson |
September 27, 2012
U.S. investigators conducting a criminal probe of interest-rate manipulation have asked their British counterparts for permission to interview London traders.
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By Lindsay Fortado and Kitty Donaldson, Bloomberg |
September 27, 2012
U.S. investigators conducting a criminal probe of interest-rate manipulation have asked their British counterparts for permission to interview London traders.
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By Kit Chellel and Lindsay Fortado, Bloomberg |
September 25, 2012
Kweku Adoboli’s co-workers knew he was making fictitious trades, the former UBS AG banker told an attorney who interviewed him on the night of his arrest in September 2011.
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By Lindsay Fortado and Ben Moshinsky, Bloomberg |
September 20, 2012
Kweku Adoboli’s lawyers said UBS AG had a culture that overlooked trading limits and other rules as long as employees made money.
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By Lindsay Fortado and Ben Moshinsky, Bloomberg |
September 19, 2012
Kweku Adoboli, the former UBS AG trader on trial for fraud and false accounting, missed a chance to erase billions of dollars in unauthorized trading losses, according to one of his managers at the bank.
