Wednesday, November 21, 2012

UBS rogue trader: the man, not the machine

LONDON (Reuters) - Kweku Adoboli, convicted on Tuesday of the biggest fraud in British history, was a star trader at Swiss bank UBS until he admitted booking fictitious deals to hide the losses. In a bombshell email of September 14, 2011, that owned up to the losses, he didn't mention figures, but he had hidden short positions in Eurostoxx and DAX index futures worth a staggering $8.75 billion ...

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