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Sunday
Sep182011

UBS Announces Rogue Trading Losses Amount to $2.3 Billion

ADRIAN DENNIS/AFP/Getty Images(LONDON) -- Swiss bank UBS announced Sunday that it lost more on rogue trading than initially reported.

The company announced Thursday that one of its London traders, Kweku Adoboli, cost the company $2 billion. On Sunday, it was revealed the figure was actually $2.3 billion.

Adoboli was charged on Friday with fraud and false accounting.

Copyright 2011 ABC News Radio

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