Wait! UBS Rogue Trading Losses May Exceed $2.3 Billion


Another potential blow for the already embattled UBS.

A U.K. prosecutor said today that the losses believed to be caused by a lone rogue trader at the Swiss bank may actually exceed the $2.3 billion estimated by UBS, Bloomberg reported. 

The alleged rogue trader Kweku Adoboli, 31, has already been charged with fraud and false accounting. Today he was slammed with an extended fraud charge that dates back to 2008

His lawyer said he’s “sorry beyond words.”

Adoboli did not put in a request for bail.  His next court hearing will be on October 20.