Alleged Rogue UBS Trader Faces Extended Fraud Charges

Law360, New York (September 22, 2011, 6:36 PM EDT) -- U.K. prosecutors on Thursday levied new allegations against UBS AG's purported rogue trader Kweku Adoboli, saying he engaged in fraud more than two years earlier than investigators had originally claimed.

Prosecutors told a London court the defendant committed fraud from October 2008 through 2010. Previously, he faced one charge for alleged fraud committed from the beginning of 2011 through September and two counts of false accounting.

Adoboli, who allegedly caused UBS to lose $2.5 billion in unauthorized trades, abused his position by exposing the bank to losses for his...
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