Posted on 09/15/2011 5:40:05 PM PDT by george76
A suspected rogue trader accused of a staggering £1.3billion fraud told friends he needed ‘a miracle’ days before he was arrested.
Kweku Adoboli, 31, posted a desperate last message on Facebook as he tried to recover enormous losses he had run up through illegal trading.
Detectives detained Adoboli, who works for Swiss banking giant UBS, during a 3.30am raid yesterday at his luxury London flat.
The Ghanaian, who was privately educated in Britain and is the son of a retired UN worker, is accused of being responsible for the biggest loss ever accrued by a single trader based in London...
It equates to about the same amount UBS is seeking to save by cutting 3,500 jobs worldwide.
Speculation was mounting that he may have been caught out after the Swiss Central Bank unexpectedly devalued the franc last week, producing mammoth losses on one of his currency trades.
It was then that Adoboli’s final Facebook message, believed to have been left on Tuesday, September 6, read: ‘Need a miracle.’
Adoboli’s boss John Hughes is reported to have quit his job in the aftermath of the scandal. Sources said he would have faced serious questions about supervision of staff.
(Excerpt) Read more at dailymail.co.uk ...
How to make a small fortune in day trading: Start with a large fortune.
I think we was just trying to get a job as an Obama economic advisor. I’d say he’s qualified.
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