Wednesday, September 28, 2011

Kweko Adoboli and the UBS Fiasco

By CARRICK MOLLENKAMP, PAUL SONNE and DEBORAH BALL

LONDON—An alleged trading scheme at UBS AG went undetected for three years before it was finally discovered, triggering a $2 billion loss, U.K. authorities indicated Friday as they charged a 31-year-old trader at the Swiss bank with fraud.

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