Top firm trader dismissal said probed after warehouse deaths

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Argentina’s central bank is investigating the dismissal of a Deutsche Bank currency trader to determine whether it was linked to a warehouse fire that destroyed industry documents this week in Buenos Aires.

Bloomberg News reports that the probe is part of a broader review of importers and exporters the central bank suspects may be withholding foreign currency overseas, Cabinet Chief Jorge Capitanich said Friday at a press conference in Buenos Aires.

Argentine President Cristina Fernandez de Kirchner ordered the investigation into the February 5th blaze at an Iron Mountain warehouse after an employee said fire precautions had been scaled back, Capitanich said. The fire, which killed nine people, destroyed files belonging to companies in industries from banking to telecommunications to energy, he said.

'Deutsche Bank didn’t have documents in the Iron Mountain deposit center which was unfortunately destroyed in a fire', a spokesperson for the company in New York said in an e-mailed statement.

There is no suggestion that Deutsche Bank or the trader had any responsibility for the fire.

In the meantime, Bloomberg also reports that Deutsche Bank has agreed to hand over documents related to a probe into the operations of its Dubai-based wealth management division after being taken to court by the emirate’s financial free zone regulator.

The Dubai Financial Services Authority began proceedings against the Frankfurt-based lender at the Dubai International Financial Centre Courts on October 31st in an attempt to force the bank to comply with its investigation. Deutsche Bank agreed to submit the documents within 28 days and pay the regulator’s costs, according to a DFSA statement Sunday.

Argentina Probes Deutsche Bank’s Dismissal of Trader

Deutsche Bank Told to Hand Over Documents to Dubai Regular



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