UBS "rogue trader" was warned about SocGen scandal, court told

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LONDON (Reuters) – Ex-UBS trader Kweku Adoboli was warned by the Swiss bank about a “rogue trading” scandal at France’s Societe Generale years before he was charged with fraud over losses of $2.3 billion at UBS, a London court heard on Tuesday. Along with all other employees of UBS’s investment banking arm at the time, Adoboli was sent an email in January 2008 after SocGen announced losses of 4.9 billion euros ($7.1 billion) blamed on unauthorized trades by Jerome Kerviel. Adoboli, 32, used to work as a senior trader on the Exchange Traded Funds (ETFs) desk at UBS’s London offices. He was arrested on September 15, 2011…

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