UBS Trader Is 'Sorry Beyond Words' for Losing $2.3 Billion

Kweku Adoboli's lawyer has offered an apology from the rogue trader

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When does an apology feel just not quite right? Maybe when you're alleged to have engaged in unauthorized trading that resulted in a loss of $2.3 billion for your employer, Swiss bank UBS. But the lawyer for trader Kweku Abodoli made it clear in a press conference on Thursday in London that his client was very apologetic about what happened. As the New York Post transcribed, Kweku was "sorry beyond words for what has happened. He went to UBS and told them what he had done, and stands now appalled at the scale of the consequences of his disastrous miscalculations." That didn't make anything better: CNN says a new charge of "of fraud by abuse of position from October 2008 to October 2010 was also added" today.

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