SFO pays former Deutsche Bank deals with Euribor manipulation

The fraudulent office charges Andreas Hauschild, a former trader at Deutsche Bank, with conspiracy to cheat as part of a study of the manipulation of the Euro Interbank Offered Rate (Euribor).

Hauschild was handed to the UK after being arrested in Italy in August, and appeared before the Westminster Magistrates Court yesterday, SFO said. The next hearing will take place Wednesday at Southwark Crown Court.

The Italian authorities claim that Hauschild could be handed out earlier this month, after his turn it activated a European arrest warrant retrieved by SFO. He has previously been charged in the UK along with 1[ads1]0 other industries in 2015, but responded to a British trial after Germany refused a request for extradition.

Read more : Previous Deutsche Bank transactions sentenced for interest rate la From £ 6.5m fine

Hauschild, who left Deutsche Bank in 2006 to become Commerzbank's global risk factor, would have been safe from arrest if he had lived in Germany.

His lawyer could not be reached immediately for comment. 19659003] SFO has accused traders of manipulating the interest rate standard that supports securities worth thousands of dollars by collaborating to determine the Euribor Prize.

Four German merchants including Hauschild evicted the charges in a British Euribor trial held earlier this year after officials blocked requests to send them to London. A court in Frankfurt has ruled that the manipulations, alleged to have taken place between 2005 and 2009, were too old to justify prosecution.

Read more : Former merchant accused of Euribor rigging was "lowballing" whistleblower [19659003] SFO has claimed rigging related to Euribor and London equivalents, Libor since 2012. Two previous Euribor dealers is already sentenced: Christian Bittar, also of Deutsche Bank, who received a five-year sentence and a multi-million pound fine; and Phillipe Moryoussef, formerly of Barclays Bank, who were sentenced to eight years in prison.

Three other defendants – Carlo Palombo, Colin Bermingham and Sisse Bohart, all former Barclays Bank – are set to face a trial in January after a jury was unable to reach a verdict against them.

Source link