Ex-UBS Trader Blames $2B Loss On Pressure From Bosses

Law360, New York (October 30, 2012, 11:01 PM EDT) -- London-based trader Kweku M. Adoboli, charged with costing UBS AG $2.3 billion in losses, reportedly told a jury Tuesday in London that he had buckled under pressure from his bosses to bring in profits.

Adoboli told the jury that he had lost control and that UBS managers knew what he was doing and wanted him to “push the boundaries,” according to a report by the Associated Press. He said a fellow trader once mocked his conservative approach to trading in an email that circulated in the...
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