Saturday, December 3, 2016

Manipulation of the price of gold: Deutsche Bank agrees to penalty – Handelsblatt

The Deutsche Bank towers in Frankfurt

hook to it: A payment of $ 60 million ended one of numerous legal dispute, the German Bank in the USA. It was allegedly manipulated gold prices.

(photo: AP)

New YorkIn the dispute over alleged manipulation of the price of gold has admitted Deutsche Bank to make a comparison. Is provided for the payment of $ 60 million to traders and other investors, such as information from the files, which were filed on Friday in Federal court in Manhattan. Accordingly, the consent of a judge is still needed. The plaintiffs had accused the group to have the price of gold at your expense manipulated. The Bank, however, has dismissed a misconduct. A spokeswoman did not comment on the proceedings.

Before the New York court are many processes to alleged manipulation of prices on the financial and commodity markets pending. In conjunction with gold prices, investors had sued in the year 2014, in addition to Deutsche Bank and Barclays, the Bank of Nova Scotia, HSBC and Société Générale. The alleged price-fixing, in accordance with your representations between 2004 and 2013. In October, Deutsche Bank had agreed on a settlement in a similar case that went to the silver price. The Institute pays $ 38 million.


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