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By Joyce Hanson, AdvisorOne |
September 16, 2011
UBS trader Kweku Adoboli was charged Friday with engaging in fraud and false accounting since 2008, and hired the lawyers who represented rogue trader Nick Leeson to defend him.
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By Marlene Y. Satter, AdvisorOne |
September 16, 2011
The same day the $2 billion loss hit the news, the firm was placed on review by Moody’s Investors Service for possible downgrade over its risk control measures.
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By Marlene Y. Satter, AdvisorOne |
September 15, 2011
A rogue trader could be responsible for Switzerland’s biggest bank failing to be profitable in the third quarter, after he managed to siphon off $2 billion in unauthorized trading.