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Kweku Adoboli - Remanded in police custody for over GBP 2bn

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Kweku Adoboli - Remanded in police custody for over GBP 2bn

Postby ahwedeɛ » Thu Sep 15, 2011 12:28 pm

Wow. :shock: and he's not even a politician yet

http://www.telegraph.co.uk/finance/news ... -loss.html
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Postby Fuseini Etwebiri » Thu Sep 15, 2011 12:36 pm

i hope he invesed in Ghana. we need all the money
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Postby Danso_Brown » Thu Sep 15, 2011 2:06 pm

His first name is Ghanaian and last name sounds nigerian...What a bad combo..... :lol:
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Postby Papi Pollo Picante » Thu Sep 15, 2011 2:11 pm

etwewansina wrote:i hope he invesed in Ghana. we need all the money
Do you understand what just happened? What money are you talking about? :?

Kwakwe.
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Postby Loverboy Mahama* » Thu Sep 15, 2011 3:07 pm

Papi Pollo Picante wrote:
etwewansina wrote:i hope he invesed in Ghana. we need all the money
Do you understand what just happened? What money are you talking about? :?

Kwakwe.


:lol: :lol: :lol: He is not using his big head. :lol: :lol: :lol:
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Postby Fuseini Etwebiri » Thu Sep 15, 2011 3:17 pm

Papi Pollo Picante wrote:
etwewansina wrote:i hope he invesed in Ghana. we need all the money
Do you understand what just happened? What money are you talking about? :?

Kwakwe.
no I don't I'm just hoping he made some money out of it. and if he did I hope he invested in Ghana that is all
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Re: Kweku Adoboli - Remanded in police custody for over GBP

Postby paabo » Thu Sep 15, 2011 5:33 pm

ahwedeɛ wrote:Wow. :shock: and he's not even a politician yet

http://www.telegraph.co.uk/finance/news ... -loss.html

see how some comments are being removed on the article.....I'll bet they were racist ones, any chance to shout the black man down :evil: they forget Nick Leeson and co?
The guy was not acting alone :!:
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Postby Guest » Thu Sep 15, 2011 8:03 pm

To me, dude is no more a Ghanaian than Kwame Kilpatrick.
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Postby Guest » Fri Sep 16, 2011 6:57 pm

Up until now his unit was said to be "doing very well". If I was him I wouldn't go down alone :idea:
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Postby paabo » Sun Sep 25, 2011 3:46 pm

UBS boss resigns over Adoboli fraud case


The head of Swiss banking giant UBS has resigned in the wake of a $2. 3 billion loss in unauthorized trading, the bank announced Saturday.

Chief executive Oswald J. Gruebel is stepping down immediately, and an interim CEO has been appointed, the bank said in a statement.

A UBS trader, Kwaku Adoboli, has been charged in London with counts of fraud and false accounting in connection with the losses. He has not yet pleaded to the charges.

Image


UBS chairman Kaspar Villiger was quoted in the UBS statement as saying the bank regretted Gruebel's decision.

Gruebel "feels that it is his duty to assume responsibility for the recent unauthorized trading incident. It is testimony to his uncompromising principles and integrity," Villiger said.

"During his tenure, he achieved an impressive turnaround and strengthened UBS fundamentally. He steps down having helped make UBS one of the world's best capitalized banks."

Sergio P. Ermotti will take over at the helm of UBS while the board of directors looks for a permanent successor.

The board is "deeply disappointed" by the loss in unauthorized trading and will do all it can to assist an independent investigation into what happened and put measures in place to prevent a recurrence, the statement said.

Revealing the $2. 3 billion loss a week ago, UBS said no client positions were affected.

But the "unauthorized trading by a trader in its investment bank" could cause UBS to post a loss in the third quarter of this year, it said.

The loss would potentially be among the largest ever to a bank in unauthorized trading.

UBS made a pre-tax profit of about $1. 9 billion in the second quarter of this year, it announced in July, down from about $2. 5 billion the quarter before that.
http://citifmonline.com/index.php?id=1.287144.1.578433
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