UBS trader Kweku Adoboli appeared in court here on Friday to face charges of fraud and false accounting, as prosecutors began to outline alleged wrongdoing that stretch back as far as October 2008.

Adoboli has been charged on three counts: two counts of false accounting and one count of fraud by abuse of position. He was arrested early Thursday morning, hours before UBS said that a rogue trader had caused up to $2bn in losses at the Swiss bank.