Tuesday, 17 November 2015

ex-Deutsche Bank trader Bittar and nine others charged over rate rigging

Britain charges ex-Deutsche trader Bittar, nine others over rate rigging

From Reuters –

“Britain's Serious Fraud Office (SFO) said on Friday it would charge former Deutsche Bank star trader Christian Bittar and nine others in a new phase of a global investigation into alleged benchmark interest rate rigging.

The 10 individuals will face the first criminal proceedings for alleged manipulation of Euribor benchmark interest rates, part of a global investigation that has already led to big financial institutions being fined billions of dollars and 22 men being charged.

The traders are all former or current employees of Deutsche Bank or Barclays and the SFO said it planned to file further criminal charges in due course.”

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