Kweku Adoboli, the UBS AG trader accused of making unauthorized transactions that cost the lender as much as $2.3 billion, pleaded not guilty in London to fraud and false accounting, clearing the way for an autumn trial that could prove embarrassing for Switzerland's largest bank according to the Wall St Journal
Last September, UBS disclosed that a trader on its London-based equities desk had conducted unauthorized trades that caused the bank $2.3 billion in losses. U.K. authorities arrested Mr. Adoboli and charged him with two counts each of fraud and false accounting, but the former trader entered a plea only on Monday…
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