Banking

UBS Was Aware of Huge Problems Weeks Before Arrest of Trader

$3.6 billion hole in accounts raised some eyebrows

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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.