Trader's $2B Fraud Exposes UBS To Investor Wrath

Law360, New York (September 15, 2011, 10:57 AM EDT) -- With UBS AG's share price plummeting Thursday amid reports that a trader lost $2 billion in unauthorized trades, shareholders will be gunning for the financial giant as questions abound over the bank's inability to uncover and halt the alleged massive fraud, attorneys say.

London authorities confirmed they had arrested a UBS trader on charges of suspicion of fraud by abuse of position after being contacted by the bank. Several media outlets identified the employee as Kweku Adoboli, 31, whose LinkedIn page says he is a director...
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