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UBS man held over '$2 bn rogue trades'
9 Views • Aug 23, 2012
Description
Police in London said they had arrested a 31-year-old man on suspicion of fraud, but did not confirm whether it was in relation to the UBS case.
British media have named the trader as Kweku Adoboli. UBS has declined to confirm his name.
UBS, Switzerland's largest bank, also said in a statement on Thursday that it may post a loss for the third quarter as well. "UBS has discovered a loss due to unauthorised trading by a trader in its investment bank,'' it said.
Al Jazeera's Peter Sharp reports from London.
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