Former UBS Trader Banned For LifeMark Melin
A former UBS AG (NYSE:UBS) senior trader has been barred for life from working in the financial industry for manipulating financial data and falsifying reports.
John Hughes, a senior trader on the bank’s synthetic equities desk in London, discovered a scheme on the trading desk whereby traders officially reported profits and losses were manipulated through a “slush fund of money” internally called the “umbrella,” the exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
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