Former UBS Trader Pleads Not Guilty to Fraud LONDON - A former UBS trader, Kweku M. Adoboli, pleaded not guilty on Monday to charges of fraud and false accounting that led to a $2.3 billion trading loss at UBS last year. Standing in a glass-walled box in a London court, Mr. Adoboli, 31, answered "not guilty" when asked how he would plead to each of the four counts, which were read by a court aide. Mr. Adoboli did not give any reasoning for his plea. He faces up to 10 years in prison if found guilty of the two counts of falsifying accounts and two counts of fraud by abuse of position. The judge, Alistair McCreath, remanded Mr. Adoboli in custody and said the trial would start on Sept. Given the "magnitude" of the case, with a vast amount of material and witnesses, "it's unlikely to try before that," the judge said. The trial is expected to last as long as eight weeks. A spokesman for UBS declined to comment. Paul Garlick, Mr. Adoboli's lawyer, said he expected to enter an application for bail "in the near future." Mr. Adoboli was arrested on Sept. 15 at 3:30 a.m. on suspicion of fraud after UBS had alerted the police. The bank has said it lost $2.3 billion as the result of unauthorized trades in equity index futures and claimed that Mr. Adoboli masked those activities from internal risk controls with fictitious trades. The scandal shook UBS and prompted the resignation of its chief executive, Oswald J. Grübel. While UBS, based in Zurich, has completed its own internal investigation into the trading loss, a separate one by the Financial Services Authority, the British regulator, and the Swiss financial watchdog is continuing. The F.S.A. has hired the accounting firm KPMG to help. The bank's internal investigation showed that while its risk controls picked up something unusual and red flags were raised, those in charge failed to investigate them sufficiently. UBS said in October that the co-heads of the equity division in London, where the trades occurred, had resigned. "We have to be straight with ourselves," Sergio P. Ermotti, the chief executive, said then. In no circumstances should something like this ever occur.