Kweku Adoboli
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UBS trader Kweku Adoboli arrested by City of London Police

Police in London have arrested Kweku Adoboli in connection with allegations of unauthorised trading which has cost Swiss banking group UBS an estimated $2bn (£1.3bn).

Cdr Ian Dyson of City of London Police said they arrested a 31-year-old on suspicion of fraud by abuse of position.

Mr Adoboli, who is believed to work in the European equities division, was detained in the early hours of Thursday and remains in custody.

UBS shares fell 8% after it announced it was investigating rogue trades.

  • 15 Sep 2011
  • From the section UK
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