Deutsche Bank prosecuted for creating foreign-exchange losses

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/AFP

Deutsche Bank AG faced a claim from Sebastian Holdings Inc., an investment fund that accuses bank in creating losses valued at $2.5 bn via miscarried foreign-exchange transactions. Sebastian Holdings insists that Deutsche Bank permitted a trader to break forex trading limits during period 2006-2008. Losses for Sebastian took place when company had to close positions and assemble margin calls. Deutsche Bank in its statement admitted only unpaid margin call and announced that it will defend itself against other such claims.

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