$2billion FRAUD: 31 yrs old Togolese Kweku Adoboli charged in electronic trading swindle
$2billion FRAUD: 31 yrs old Togolese Kweku Adoboli charged in electronic trading swindle at UBS bank
USAfricaonline.com: Kweku Adoboli, 31-year old electronic trader of Togolese origin (west Africa) at Swiss
mega-bank UBS in London and a director of the bank’s Global Synthetic Equities Trading team has been charged a few minutes ago, USAfricaonline.com has learned, with fraud on Friday September 16, 2011 by the Police in London.
Adoboli’s alleged scheme hit the bank with a staggering $2-billion loss.
Before appearing before City of London Magistrates court on Friday, the British Police in London secured a 12-hour extension to question Adoboli.
International currency and ETF traders are wondering how one person could have traded such a massive sum. A key, respected person who is not buying the lone person story is banking-financing professor Hans Geiger; and he has raised more doubts on the SF Swiss television channel disputing the lone trader account being pushed by UBS executives.
The Chief executive officer of UBS is Oswald Gruebel. He came in 2 years ago to help improve the operations and credibility of UBS, especially after several problems, mired in the U.S sub-prime mess and tax evasion charges.
It seems, to date, the biggest alleged fraud committed by any African in the global diaspora. USAfrica will bring updates to this breaking financial news.
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