Belfast Telegraph

Employees at Deutsche Bank are now facing Libor probe

By John-Paul Ford Rojas

Current and former Deutsche Bank employees are reportedly being questioned by the Serious Fraud Office (SFO) over Libor rate-rigging.

It comes after the Frankfurt-based bank was fined £1.6bn earlier this year in settlements with US and UK regulators including a £227m penalty levied by Britain's Financial Conduct Authority (FCA).

The bank has already fired seven employees over the scandal.

The SFO and Deutsche Bank both declined to comment on a report from Bloomberg about those said to have been interviewed in recent weeks.

The report said that a number of traders had been questioned over the manipulation of Libor and its euro counterpart, according to sources.

It added that at least one banker was interviewed under caution. The FCA said earlier this year that parts of Deutsche had a "deeply ingrained" culture of "generating profits without proper regard to the integrity of the market".

It said the bank's failings had been compounded by it "repeatedly misleading" the regulator.

Belfast Telegraph