London, Sept 16(ANI): UK police have arrested a man who was allegedly involved in 1.3 billion pound rogue trading at the Swiss banking giant UBS.
Sources told Sky News that Kweku Adoboli, 31, is currently in police custody on suspicion of committing fraud by abusing his position.
Adoboli worked in the European equity trading division of UBS in London.
The bank had revealed earlier that a trader had lost about two billion US dollars due to unauthorized trading.
A memo issued by UBS Chief Executive Oswald Gruebel to the staff said the "distressing" alleged rogue trading was discovered in the past 24 hours.
An acquaintance described the suspect as a "nice, open guy with lots of friends, very popular with his colleagues and personal friends", Sky News reports.
"I would have thought many of his colleagues and friends are very shocked at the news," he said.
"I haven't got a bad word to say about him," Adoboli's former landlord Philip Octave said. (ANI)
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