Deutsche Bank fined record $2.5 billion in rate rigging inquiry

April 23, 2015 4:04 PM

52 0

Deutsche Bank fined record $2.5 billion in rate rigging inquiry

LONDON/NEW YORK (Reuters) - U.S. and British regulators fined Deutsche Bank (DBKGn.DE) $2.5 billion and its British subsidiary pleaded guilty to criminal wire fraud on Thursday as it became the eighth financial group to settle allegations of rigging interest rate benchmarks.

The record penalty in a seven-year investigation that has shredded the banking industry's reputation takes the total fines imposed on some of the world's top financial institutions to more than $8.5 billion. Twenty-one traders and brokers face criminal charges.

Read more

To category page

Loading...