By Marcus Leach

Kweku Adoboli, the man accused of unauthorised trading at Swiss bank UBS, has been charged with fraud by City of London police.

Mr Adoboli's actions have already cost the bank $2 billion (£1.3 billion), and that figure could rise as a full investigation into the extent of his illicit trading takes place.

Having confessed to his own crime he will appear at City of London Magistrates' Court this afternoon (Friday).

As well as that the Financial Services Authority (FSA) is investigating why the Swiss bank did not identify the trades.

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