Former UBS trader asked to hide tanking FICO scores from S&P
Former UBS trader, Adrian Wu, admitted in a US court he told a work colleague to keep data regarding falling homebuyer credit scores away from Standard & Poor's rating agency in 2007 in an effort to close a mortgage bundle. Wu was often evasive during the three hours of questioning before US Judge Kevin Castel, in a case brought by trustee US Bank, which is looking to hold the Swiss bank liable in a trial for building shoddy trusts that cost investors $2bn.
By Pete Brush (April 19, 2016, 6:44 PM EDT) -- A former UBS trader grudgingly admitted Tuesday that he told a colleague to keep data about falling homebuyer credit scores away from ratings agency Standard & Poor's in 2007 in an effort to close a mortgage bundle, as trustee U.S. Bank seeks to hold the Swiss megabank liable at trial for building shoddy trusts that cost investors $2 billion....

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