• Dow Jones, Reuters, Monday, September 19, 2011 10:15 AM

UBS saw its reputation go back into the dumpster when it announced last week that unauthorized trades had lost it some $2 billion. London trader Kweku Adoboli was charged on Friday with fraud and false accounting dating back to 2008.

And now, according to Reuters, UBS has upped to $2.3 billion the amount it said it had lost on rogue equity trades, per Chief Executive Oswald Gruebel, who said the alleged fraud would have consequences for strategy and possibly also for himself.

The financial services company has suspended its global advertising campaign in the wake of the scandal, a press spokesman confirmed Sunday. Running under the slogan "We won't rest," the current UBS media campaign wouldn't represent money well spent under the current circumstances.

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