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Former UBS trader pleads not guilty to $2B fraud in London
May 24, 2012

http://www.usatoday.com/money/industries/banking/story/2012-01-30/ubs-adoboli-fraud-UK/52882604/1

LONDON – A former UBS trader charged with fraud in connection with 

unauthorized trades that cost the Swiss bank more than $2 billion pleaded 

not guilty Monday to the charges against him.

Kweku Adoboli, 31, pleaded not guilty to two counts of fraud and two of 

false accounting between 2008 and September 2011 at London's Southwark 

Crown Court.

The trader was arrested in London Sept. 14.

The incident pushed UBS CEO Oswald Gruebel to resign and damaged the 

bank's efforts to clean up its image after being involved in a United States tax 

evasion investigation and sustaining huge losses on subprime mortgages 

during the financial crisis.

The British Financial Services Authority and its Swiss counterpart have 

launched an investigation into why UBS failed to spot allegedly fraudulent 

trading.

Adoboli's case was delayed last year after he replaced his former lawyers at 

Kingsley Napley law firm with a new team from Bark & Co., which specializes 

in fraud cases.

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Posted: Thursday May 24, 2012, 6:59 pm
Tags: bark london in and fraud to not fred & co jones former guilty giles UBS Trader solicitors pleads bunn $2b [add/edit tags]

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Ida Nightingale (0) 		Thursday May 24, 2012, 7:08 pm
An interesting dialogue is value comment. I believe that you should write more on this matter, it won’t be a taboo subject but generally people are not sufficient to talk on such topics. To the next. Cheers

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http://www.dailyrecord.co .uk/news/uk-world-news/20 11/12/20/rogue-trader-acc used-of-gambling-away-1-4 bn-of-swiss-bank-s-money- has-case-adjourned-86908- 23649678/ A TRADER accused of gambling away a record £1.4billion will not enter his plea unti...


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