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Tuesday, 31 January 2012
Rogue Trader Pleads Not Guilty
Kweku Adoboli, the man charged with the UBC rogue trader fraud, pleaded not guilty to four charges of fraud and false accounting.
This was his third appearance at Southwark Crown Court where he was remanded in custody until the start of his trial on September 3rd.
The FSA and Swiss regulator, FINMA, have commissioned a report from PwC to examine the losses.
It is clear that any enforcement action will need to wait until this case has been completed.
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