Post date: Sep 16, 2011 12:28:38 PM
Ghanaian port city of Tema is the home town of London-based trader Kweku Adoboli, suspected of rogue dealing while working for Swiss bank UBS.
TEMA, GHANA (SEPTEMBER 16, 2011) REUTERS - Swiss bank UBS said it had lost around 2 billion U.S. dollars (USD) due to rogue dealing by a London-based trader at the Swiss bank and police said they had arrested a man on suspicion of fraud.
Sources close to the situation named the suspect as 31-year-old Kweku Adoboli, who was working as UBS director of exchange traded funds and so-called Delta 1 trading, according to his profile on LinkedIn.
All was calm at Adoboli's hometown in the port city of Tema in Ghana on Friday (September 16), bearing little hint of the turbulence the trader could be facing.
Adoboli was arrested during the night at UBS's London office, the sources told Reuters.
UBS said it discovered the problem on Wednesday (September 14) afternoon, but gave no details of the alleged trades involved. Police said they had arrested a man on Thursday (September 15) after being contacted by the bank and he was in custody.
Adoboli, a University of Nottingham computer science and management graduate, was described by a former landlord as a good tenant of a 1,000 pound (1,600 USD) per week apartment close to UBS in London's East End, where he lived until recently.
His father, John Adoboli, a retired United Nations employee from Ghana, said he knew the financial sector was a high risk area but he had no doubts about his son's competence and integrity.