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LONDON Ex-UBS trader Kweku Adoboli was warned by the Swiss bank about a “rogue trading” scandal at France’s Societe Generale years before he was charged with fraud over losses of $ 2.3 billion at UBS, a London court heard on Tuesday. Along with all other employees of UBS’s investment banking arm at the time, Adoboli was sent an email in January 2008 after SocGen announced losses of 4.9 billion euros ($ 7.1 billion) blamed on unauthorized trades by Jerome Kerviel. Adoboli, 32, used to work as a senior trader on the Exchange Traded Funds (ETFs) desk at UBS’s London offices. [...]

LONDON A senior banker, who says he was fired for being too successful, is taking his 12.5 million euro-plus ($ 16 million) lawsuit against France’s Societe Generale to the UK’s highest court in a case that could re-draft employment law. Raphael Geys, a Belgian national and a former managing director of SocGen’s European fixed income sales in London, is suing for breach of contract after France’s second-largest bank summarily fired him in 2007 without paying his full severance package. The case might not muster much public sympathy at a time of political and regulatory anger at rich banker rewards and [...]

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