London (AP)-young traders who shock from $2 billion suspected of gambling on Friday, be charged fraud and false accounting back to 2008, as his bank failed to catch a huge loss of the Swiss bank criticism the giant ubs.
Adoboli Kweku wiped away the eyes, and in a brief court hearing smoked sniffling, but not to enter confessed. , the referee the magistrate Caroline Wagner's Steve said, he will last until September 22 other held appearance.
Dressed in a pale blue sweater and a white shirt, 31, Adoboli staring at the ceiling, as ongoing program. Occasionally, he said, smiling to confirm his name, date of birth and in east London's a modern apartment building's address. His lawyers had no comment, waiting for journalists, when they leave the city of London of the court.
In the financial sector, problems continue to the whirlpool.
Some commentators and politicians called for UBS senior management personnel to take the loss of the bank is responsible for, say, can put in its third quarter red performance. Moody's, a rating agency of the ubs likely examine demoted credit rating, reason is worried about its headquarters in London. The future of unit of investment
"Until ubs in such a big loss, due to unauthorized transaction possible detailed instructions on how to explain, the problem will be solved, how to have the confidence to continue, Zuercher Kantonalbank Venditti damaged, the analysts said:" andreas.
Swiss social Democrats, including two in the country's seven member representatives of the government of the accused "arrogant and greed," ubs last Friday in 2008 after the banking crisis, failed to curb its business operations.
In a statement, called for under the party's leadership consequences, including change "egomaniacal, arrogance and irresponsible management" to major Banks of the ban on proprietary trading; And a rogue trading is connected to the Swiss national bank ubs rumours reaction decided last week for the euro Swiss francs exchange the lowest price.
Called one of the delta stock desk was arrested last Thursday, the young traders, already employ ubs and and exchange fund, track different types of stock or goods such as precious metals work.
British prosecutors said, dates back to 2008, is accused of crimes, Adoboli one of the alleged have made the effort to cover up his own trail, not successful industry.
Prosecutors levy in court said: "he himself involved in the industry is highly dangerous bank".
Adoboli representative kingsley Napley law firm, has represented Nick-brought allison-traders bank of England baring in 1995 after he dropped, the unauthorized trading loss of about 14 billion.
Manuel Oman, holy and Aaron university professor says, will be difficult financial for ubs investment in the current downturn unit sale of financial environment, although some shareholders may be more like it was split.
"Oman said," from the Angle of risk, there is good reason, from classic credit and pay business, investment Banks, because there is a cross the risk of infection. "Shareholders would rather than two strands of two key enterprises, for a share of the group."
Ubs's share price has risen 10.25 francs (us $11.72) 5.1% Friday afternoon. Stock prices have dropped 10% after the day before, the bank said, a lonely employees unauthorized trading loss.
The bank refused to comment on the British broadcasting company (BBC) reports, this is Adoboli their losses moved manager.
Ubs spokesman andreas kern also declined to comment on the Swiss newspaper "the daily report Friday report said, are accused of unauthorized transactions occurred in London the whole transaction team has suspended.
But Mr Cohen said the paper the investment bank new work cut, in a meeting on November 17,, reduced the some 1600 jobs has said investors that report declared to save about $230 million dollars (2 of the part of the plan last month francs), in the next two years.
International banking has been trying to put a in 2008, when traders Jerome Kerviel lose light up to us $6.7 billion at societe generale euro4.9 ($), and notorious allison, in its corruption scandal involving businessman after more stricter controls.
Ubs chief executive Oswald Gruebel is two years ago in a series of mistakes, including subprime mortgage market and an embarrassing American tax evasion of huge losses in the recovery of the damaged reputation bank.
Oman, observation of the Swiss banking in the past ten years the great changes of said ubs may survive the latest scandal. "Can the economic losses of the stomach and reputation losses can be repaired," he said.




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