Kweku Adoboli

How in the world did Kweku Adoboli, the London based rogue trader, manage to lose $2.3 billion for UBS, without the Swiss bank's risk management systems detecting his unauthorized activity? This is hard to believe, and the implications of this story are devastating for UBS (NYSE: UBS). According...

A UBS (NYSE: UBS) equity derivatives trader was charged last week with fraud and false accounting after disguising losses of $2.3 billion at the Swiss bank. Reports indicate that London based Kweku Adoboli, 31, racked up the staggering losses through a series of trades in S&P 500, DAX and...

Talk about bad news coming at an inopportune time...Swiss banking giant UBS (NYSE: UBS) revealed on Thursday that a rogue trader lost $2 billion for the firm through unauthorized trades. While the loss may not amount to a knockout punch, it is sure to sting the bank, which was already on the ropes...