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Rogue trader's case adjourned

FRAUD: Banker Kweku Adoboli who is accused of gambling away employer's £1.5b was remanded in custody for another month

THE CASE against a banker who was arrested on suspicion of £1.3 billion fraud has been adjourned until December 20.

Kweku Adoboli, 31, who faces two counts of fraud and two of false accounting at Swiss investment bank UBS, will remain in custody until next month's hearing. There was no application for bail.

The Ghanaian, who has been in custody since September 15 following raid at his east London home, worked at the bank's headquarters in the heart of London's finance district and had been involved in unauthorised trading and rouge deals. It is believed that his unauthorised trading a could have forced the firm into a third-quarter loss.

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