{"id":5831,"date":"2015-07-11T00:00:00","date_gmt":"2015-07-11T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2015\/07\/exdeutsche_bank_employees_may"},"modified":"2022-05-06T15:47:43","modified_gmt":"2022-05-06T20:47:43","slug":"exdeutsche-bank-employees-may","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/exdeutsche-bank-employees-may\/","title":{"rendered":"Ex-Deutsche Bank Employees May Face Libor Rigging Charges"},"content":{"rendered":"

Bloomberg<\/em> reports that according to sources, the U.S. Department of Justice is getting ready to file securities charges against former employees of Deutsche Bank AG (DB) for manipulating the London interbank offered rate. The government is looking at five ex-traders who may have rigged the U.S. dollar equivalent of the interest-rate benchmark. If the criminal charges do go through these would be the first ones against the German bank\u2019s traders over Libor.<\/p>\n

Earlier this year, Deutsche Bank agreed to pay $2.5B to regulators for rigging Libor and other benchmarks: $600M to the New York Department of Financial Services, $775M to the DOJ, $800M to the Commodities Futures Trading Commission, and $340M to the U.K\u2019s Financial Conduct Authority. The latter had doubled its fine because of what it considered the bank\u2019s \u201cslow\u201d and \u201cineffective response to questions and purportedly \u201cfalse, inaccurate, or misleading\u201d statement that it made.<\/p>\n

The global settlement included a ban against Deutsche Bank\u2019s traders who had engaged in interest rate rigging. The bank\u2019s DB Group Services in the U.K. also pleaded guilty to one count of wire fraud for its involvement in the scam to defraud counterparties to interest rate swaps by manipulating U.S. Dollar LIBOR contributions.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bloomberg reports that according to sources, the U.S. Department of Justice is getting ready to file securities charges against former employees of Deutsche Bank AG (DB) for manipulating the London interbank offered rate. The government is looking at five ex-traders who may have rigged the U.S. dollar equivalent of the interest-rate benchmark. If the criminal […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3818,3752,4027],"tags":[],"class_list":["post-5831","post","type-post","status-publish","format-standard","hentry","category-deutsche-bank","category-financial-firms","category-libor-scandal"],"yoast_head":"\nEx-Deutsche Bank Employees May Face Libor Rigging Charges — Investor Lawyers Blog — July 11, 2015<\/title>\n<meta name=\"description\" content=\"Bloomberg reports that according to sources, the U.S. Department of Justice is getting ready to file securities charges against former employees of — July 11, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/exdeutsche-bank-employees-may\/\" 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