London Police Arrest Man Over Rogue Deals

Kweku Adoboli was arrested today for fraudulent trading, losing the Swiss bank accounts $2 billion (£1.3 billion). According to officials, none of the money was taken from normal customer accounts. Adoboli was believed to work within the European equities division, and after the UBS (Swiss banking company) noticed an 8% drop in its shares, they had discovered it was because of rogue trading. The matter is still being investigated and so far the money is only estimated to have cost the company $2 billion. Adoboli still remains in custody and more information is developing to this case.

http://www.bbc.co.uk/news/business-14927432

Julian Connell