UBS rogue trader’s $2.3-billion ‘naked gamble’ nearly destroyed bank, court told
Estelle Shirbon, Michael Holden
Reuters, 14 September 2012
Former UBS trader Kweku Adoboli arrived at Southwark Crown Court in London Sept. 14, 2012. Adoboli, was arrested a year ago when a loss of $2.3-billion came to light, and was charged with fraud and false accounting.
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UBS will pay $12M over naked shorts
dcubberley, 27 October 2011
UBS AG, Switzerland’s biggest bank, will pay $12 million to resolve Financial Industry Regulatory Authority claims that a brokerage unit allowed millions of short-sale orders to be placed without reasonable grounds to believe that the securities could be delivered. Continue reading “Article: UBS will pay $12M over naked shorts”