Rogue Trader Thrived for 3 Years

    Image #: 15352010    Suspected rogue trader Kweku Adoboli, 31, leaves City of London magistrates court where he appeared over an alleged £1.3 billion fraud at banking giant UBS.       PA PHOTOS /LANDOV

    Press Association / Landov

    It seems UBS's rogue trader got away with his unauthorized trades for far longer than suspected. Sources tell The Wall Street Journal that Kweku Adoboli started his alleged scheme back in 2008. The scheme was discovered Wednesday and Adoboli was arrested. He has been charged with two counts of false accounting and one count of fraud. Losses connected to his trades totaled $2 billion, and traders have speculated that the losses were tied to recent volatility of the Swiss franc.

    Read it at The Wall Street Journal