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UBS equities trader Kweku Adoboli (C) leaves City of London Magistrates Court in central London, on September 16, 2011.


UBS trader Kweku Adoboli, who is accused of unauthorized trading which the Swiss bank says has cost it some $2.3-billion (U.S.), was remanded in custody on Thursday to appear for a plea and case management hearing next month.

Mr. Adoboli, 31, who worked as a director of exchange traded funds at UBS, is charged with two counts of fraud dating back to 2008 and two counts of false accounting.

He made no application for bail at the City of London magistrates court and will next appear at Southwark Crown Court on Nov. 22.

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