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UBS equities trader Kweku Adoboli (C) leaves City of London Magistrates Court in central London, on September 16, 2011. (ADRIAN DENNIS/AFP/Getty Images)
UBS equities trader Kweku Adoboli (C) leaves City of London Magistrates Court in central London, on September 16, 2011. (ADRIAN DENNIS/AFP/Getty Images)

UBS trader remanded in custody Add to ...

UBS trader Kweku Adoboli, who is accused of unauthorized trading which the Swiss bank says has cost it some $2.3-billion (U.S.), was remanded in custody on Thursday to appear for a plea and case management hearing next month.

Mr. Adoboli, 31, who worked as a director of exchange traded funds at UBS, is charged with two counts of fraud dating back to 2008 and two counts of false accounting.

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He made no application for bail at the City of London magistrates court and will next appear at Southwark Crown Court on Nov. 22.

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