WRAPUP-Deutsche Bank fined record $2.5 bln in rate rigging probe

April 23, 2015 12:37 PM

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LONDON/NEW YORK April 23 (Reuters) - U.S. and British regulators fined Deutsche Bank a hefty $2.5 billion and its key London subsidiary pleaded guilty to benchmark interest rate rigging on Thursday as it became the latest financial group to settle allegations of misconduct.

The record penalty in a seven-year investigation that has shredded the 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.

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