UBS (UBS) is another popular search. Former UBS trader Kweku Adoboli has been convicted of two counts of fraud in relation to a $2.3 billion loss at the Swiss bank.
Adoboli was charged with faking records to hide his losses after exceeding his trading limits and failing to hedge trades. Adoboli admitted to the losses, but had pleaded not guilty. He was cleared on four counts of false accounting.
Adoboli will be sentenced later Tuesday. Fraud charges carry a maximum sentence of 10 years in jail in the U.K.
The loss was the largest from unauthorized trading in British history.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.
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