UBS loss now up to $2.3 billion

Suspected rogue trader charged with fraudSTORY HIGHLIGHTSThe Swiss banking giant says unauthorized trading cost it more than previously knownIt says risky behavior was hidden by fictitious tradingTrader Kwaku Adobili was charged with fraud FridayThe 31-year-old suspect didn't enter a plea London (CNN) -- Swiss banking giant UBS lost more than previously thought due to unauthorized trading, it announced Sunday, putting losses at $2.3 billion, up from earlier estimates of $2 billion.

The losses resulted from unauthorized speculative trading over a period of three months, UBS said Sunday.

It said a trader had concealed trades violating the bank's risk limits with "fictitious trades.... allegedly executed by the trader."

Police charged a bank trader with fraud Friday, a day after he was arrested in connection with the discovery of unauthorized deals at UBS.

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