Ex-Deutsche trader charged by UK in Euribor manipulation case

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Published: October 21, 2018 4:17:38 PM

Hauschild’s next hearing will be on Oct. 24 at Southwark Crown Court, the SFO said in its statement.

Hauschild appeared before Westminster Magistrates’ Court on Saturday, according to a press release issued Sunday by the SFO. (Reuters)

The U.K.’s Serious Fraud Office charged Andreas Hauschild, a former trader at Deutsche Bank AG, with conspiracy to defraud as part of an investigation into the manipulation of the Euribor interest rate benchmark.

Hauschild appeared before Westminster Magistrates’ Court on Saturday, according to a press release issued Sunday by the SFO. He was arrested in Italy in August after a trip to the country activated a European arrest warrant. He was then extradited to Great Britain.

In 2015, he was charged in the U.K. with 10 other traders for a conspiracy to rig Euribor, a benchmark that underlies trillions of dollars worth of financial transactions. Hauschild avoided trial then, along with three others, because Germany rejected an extradition request. A court in Frankfurt ruled at the time that the alleged crimes had taken place too long ago to be tried.

Hauschild’s next hearing will be on Oct. 24 at Southwark Crown Court, the SFO said in its statement.

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