Ex-UBS Trader Falsified ETF Transactions, Prosecutor Says
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Kweku Adoboli, the trader accused of costing UBS AG $2.3 billion by making unauthorized trades, falsified records on exchange-traded-fund transactions, prosecutors said.
Prosecutors amended two of the four charges against Adoboli to indicate that records he allegedly falsified were on ETF trades. A London magistrates court today transferred the case against the 31-year-old to a criminal court where he will be expected to enter a plea on the accusations at a Nov. 22 hearing.