Rate Requests Out Of Context, Ex-Deutsche Banker Testifies

Law360, London (June 26, 2019, 6:42 PM BST) -- A former Deutsche Bank executive told a London jury Wednesday that messages that allegedly show him agreeing to help the bank’s former star trader rig a key interest rate benchmark have been taken out of context, claiming the exchanges were innocent.

Andreas Hauschild, who led Deutsche Bank AG’s Frankfurt team responsible for making rate submissions, responded to a request by convicted trader Bittar to set the benchmark at a certain level by saying “Yes we will do,” in an exchange of messages shown to jurors. The Serious Fraud Office has accused him of conspiring with four traders in a plot to fix...

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