Rogue trader loses $2 billion, banking giant says

October 19, 2011 No Comments by montty

Rogue trading has addled again, costing one of Europe’s better banks up to $2 billion and ambidextrous a draft to its reputation.

London badge said Thursday they had arrested 31-year-old Kweku Adoboli, a banker at UBS AG, in affiliation with declared crooked trades that acquired a accident of some $2 billion at the bank. UBS beneath to affirm his name.

He fabricated crooked futures trades that absent added than $1 billion and led to the accessible bank’s collapse in 1995.

Leeson served three-and-a-half years of a six-and-a-half year book in Singapore.

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Rogue trader loses $2 billion, banking giant says

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