Deutsche Bank Branch Forex Sales Manager Arrested For Breaking Limits In Options Deal
BANKS
A sales manager in Deutsche Bank's Nuremberg branch has been arrested in an unusual instance of a bank pressing charges against a dealer for exceeding his limits. Deutsche Bank officials confirm that the bank's 33-year-old "head of group liquidity management" in Nuremberg is in custody for "breach of trust" -- along with his 34-year-old client -- in connection with FX options deals that resulted in an estimated DM28 million loss for the bank.
The bank spokesperson says the losses were uncovered
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