The U.S. Justice Department is preparing cases against former Deutsche Bank employees for Libor manipulation and could bring charges before year’s end, according to two people with knowledge of the situation.
Bloomberg News reports that the agency is investigating at least five former traders for rigging the U.S. dollar version of the interest-rate benchmark, said the people, who asked not to be identified because the talks are private.
The charges would be the first against traders from the lender in relation to the London interbank offered rate.
Deutsche Bank entered into a record $2.5bn global settlement with agencies, including the Justice Department, in April for manipulating Libor and similar benchmarks. Twelve banks have paid about $9bn in penalties in relation to interest-rate rigging over the last three years. Twenty-one traders have been charged in the U.K. and the U.S. with the first trial under way in London.
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