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(Image from article: "Rogue trader suspected in $2 billion loss at UBS")

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Trader on trial over £1.4bn loss

The trial of a former trader accused of causing the largest unauthorised loss in British history - £1.4bn at UBS - will start later.

 

Rogue trader suspected in $2 billion loss at UBS

Rogue trader suspected in $2 billion loss at UBS

Swiss banking giant UBS said Thursday that a rogue trader has caused it an estimated loss of $2 billion, stunning a beleaguered banking industry that has proven vulnerable to unauthorized trades. Police in London said they arrested a 31-year-old UBS trader, Kweku Adoboli, in the alleged fraud. UBS declined to confirm his name.

 

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