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Britain Jails Suspect in Swiss Bank Fraud

Posted September 16th, 2011 at 1:40 pm (UTC-5)
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An equities trader accused in a fraud scheme that allegedly cost Swiss bank UBS $2 billion has been ordered held in custody by a British court. The presiding magistrate said Friday that Kweku Adoboli will be jailed until another court appearance next Thursday. The 31-year-old Adoboli faces one charge of fraud by abuse of position […]

Tags: , , , Posted in Europe

British Jails Trader Suspected in Swiss Bank Fraud

Posted September 16th, 2011 at 12:40 pm (UTC-5)
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An equities trader accused in a fraud scheme that allegedly cost Swiss bank UBS $2 billion has been ordered held in custody by a British court. The presiding magistrate said Friday Kweku Adoboli will be jailed until another court appearance next Thursday. The 31-year-old Adoboli faces one charge of fraud by abuse of position and […]

Tags: , , Posted in Europe

Police Arrest Man In Swiss Bank Trading Fraud Probe

Posted September 15th, 2011 at 6:50 am (UTC-5)
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Police in London say they have arrested a man accused in a trading scheme that allegedly cost Swiss bank UBS about $2 billion. Police say the man was taken into custody Thursday on the suspicion of abusing his position to commit fraud. UBS had announced earlier Thursday that actions of the suspected rogue trader could […]

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Vietnam Police Break Up International Fraud Ring

Posted September 6th, 2011 at 3:11 am (UTC-5)
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Police in Vietnam have arrested more than 50 people and charged them with taking part in an international fraud ring targeting people of Chinese origin. Authorities in southern Phu Yen province arrested more than 25 Chinese and more than 25 Taiwan nationals, along with at least two Vietnamese, during a raid in Tuy Hoa City. […]

Kuwaiti Food Company Disputes US Charges of Fraud

Posted August 16th, 2011 at 6:25 pm (UTC-5)
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A Kuwaiti-based food supplier has pleaded not guilty in U.S. federal court to charges of fraud in connection with multi-billion-dollar contracts with the U.S. Army. The Public Warehousing Company, also known as Agility, says it welcomes the opportunity to have its name cleared by an impartial jury. The company says the U.S. Justice Department has […]

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European Police Arrest 61 In Credit Card Fraud

Posted July 12th, 2011 at 11:05 am (UTC-5)
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European police have arrested 61 people accused of involvement in “skimming” bank and credit cards. The EU police organization Europol says the ring is believed to have stolen $70 million from accounts around the world during the past nine years. Skimmers use an illegal electronic device to copy data from the magnetic strip of consumers’ […]

Tags: , , Posted in Economy, Europe
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