UBS Was Aware of Huge Problems Weeks Before Arrest of Trader
The Swiss bank’s back office questioned more than 80,000 incorrectly booked trades as early as August 4, 2011, a jury at Southwark Crown Court was told.
But, in a series of emails and telephone calls over the following weeks, Mr Adoboli managed to cover up his allegedly fraudulent trading by confusing accountants investigating the issue.
Source: Telegraph. Read full article. (link)
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