Ex-Deutsche Bank Trader Bittar Granted 1 Million Pound Bail
- 5 of 11 Traders don’t turn up to U.K. Court on Euribor charge
- Ex-Deutsche, Barclays traders face rate manipulation charges
The group are accused of conspiring among themselves and with other bank employees between Jan. 1, 2005, and Dec. 31, 2009, to 'procure or make submissions' in relation to the euro interbank offered rate that were false, according to court documents.
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A London judge released former Deutsche Bank employee Christian Bittar on 1 million pound ($1.46 million) bail after the ex-trader and five others were formally charged in court with manipulating a key interest-rate benchmark.
Bittar, a slim 43-year-old with dark brown hair, and former colleague Achim Kraemer, 51, appeared in court alongside ex-Barclays employees Colin Bermingham, Italian Carlo Palombo, 47-year-old Philippe Moryoussef and Sisse Bohart.