UK News
Ex-UBS trader pleads not guilty to fraud, false accounting charges
Jan 30, 2012, 11:37 GMT
London - Former UBS trader Kwaku Adoboli, who is accused of losing 1.5 billion pounds (2.4 billion dollars) in unauthorized trading while at the Swiss bank, on Monday entered a not-guilty plea.
Adoboli, 31, appeared at the Southwark Crown Court and entered not-guilty pleas to two counts of fraud and two counts of false accounting.
Judge Alistair McCreath set a provisional trial date of September 3, the Press Association reported. The charges relate to the period between October 2008 and September.
Britain's Financial Services Authority and its Swiss counterpart are investigating why UBS failed to notice the allegedly fraudulent trading.
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