Reuters - Deutsche Bank to pay $190m to settle rigging allegations

Deutsche Bank - Foyer Undersphere

Deutsche Bank agreed to pay $190 million to settle U.S. litigation accusing it of rigging prices in the roughly $5.1 trillion-a-day foreign exchange market.

Reuters reports that the bank is the 15th of 16 banks to settle the private investor litigation, for a total payout of $2.31 billion. Only Credit Suisse has not settled.

Deutsche Bank’s preliminary settlement was detailed in filings on Friday with the U.S. District Court in Manhattan, and requires a judge’s approval. The bank denied wrongdoing.

Manipulation was allegedly done through chat rooms with such names as “The Cartel” and “The Mafia,” and tactics known as “front running,” “banging the close” and “painting the screen.”

Hit the link below to access the complete Reuters article:

Deutsche Bank in $190 million currency-rigging settlement

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