Ex-UBS trader accused of fraud remanded again

A former UBS trader accused of unauthorised trading has been remanded in custody by a London court until December 20.

This content was published on November 22, 2011 - 13:56 and agencies

The 31-year-old man, whose actions the Swiss bank says cost it some $2.3 billion (SFr2.1 billion), faces two charges of fraud and two of false accounting in a case that has shaken the investment banking world.

The British-educated son of a retired United Nations official from Ghana worked as a director of exchange traded funds at UBS. He has yet to enter a plea.

On Tuesday, the man spoke only to confirm his name during his latest court appearance since being arrested in London in September. 

At a previous hearing, his lawyer said had said the accused was “sorry beyond words for what had happened”. 

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