Suspected UBS rogue trader weeps in dock as he is charged
Published 16/09/2011 | 08:34
Suspected rogue trader Kweku Adoboli wept in the dock today as he appeared before City of London Magistrates over an alleged $2bn (€1.5bn) fraud at banking giant UBS.
He is accused of carrying out unauthorised deals while working for the Swiss City firm.
Adoboli, son of a former Ghanaian official for the United Nations, was arrested at his desk in a swoop by police in the early hours yesterday.
From east London, he will face City of London Magistrates on charges of fraud by abuse of position and false accounting.
A City of London Police statement said: "At 12.56 the CPS authorised the charging of Kwaku Adoboli, from Bethnal Green.
"City of London Police has since charged the 31-year-old with fraud by abuse of position and false accounting.
"He remains in police custody and is due to appear at City of London Magistrates this afternoon."
The police inquiry is ongoing, a spokesman added.