Trading Data Trips SFO Case As Rate Rigging Trials Wrap
Law360, London (July 5, 2019, 7:05 PM BST) -- Nearly four years after the Serious Fraud Office secured its first conviction in its long-running benchmark rigging probe, a former Deutsche Bank executive was acquitted of manipulating interest rates in a further setback to the watchdog's attempts to convict bankers for alleged pre-crisis wrongdoing.
Andreas Hauschild, 55, was acquitted Thursday for his alleged part in a plot involving senior bankers at Barclays PLC, Deutsche Bank AG and others who conspired to rig the Euro interbank offered rate, or Euribor, to line their own pockets. Hauschild's attorney told the jury the SFO “never once” during its investigation looked at his client’s trading records,...
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