Deutsche Bank suspends five traders over Euribor manipulation
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Deutsche Bank has suspended five traders suspected of inappropriate conduct following an internal probe into possible manipulation of the Europe Interbank Offered Rate (Euribor), a person familiar with the matter said on Wednesday. Germany's flagship lender launched an internal investigation after regulators drew attention to potential involvement of Deutsche Bank staff in a global scam to manipulate benchmark interbank lending rates. The traders, who worked on Deutsche Bank's money market team in Frankfurt, were suspended on Tuesday, the source said. Deutsche Bank, which suspended two traders last year for involvement in the manipulation of Libor, would not say how many traders were suspended. It added that no current or former board members have been implicated.
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