Wall Street’s 9 Worst Bets Ever: From Nick Leeson to JPMorgan
8. Kweku Adoboli, UBS
Unauthorized trades by Kweku Adobili over a two-year period cost the bank $2.3 billion, and renewed calls from the investment community for better risk controls to protect firms from rogue traders. Adobili was the bank’s director of exchange-traded funds. He was charged with two counts of fraud, and two counts of false accounting. The bank said his illegal trades happened between October 2008 and December 2010.