Bloomberg

Deutsche Bank emerges as whistle-blower in bond-rig probe

Deutsche Bank earned leniency by providing information about other banks accused of rigging trading in the bonds. Foto: Boris Roessler/picture-alliance/dpa/AP Images

Deutsche Bank is cooperating with the Justice Department in its antitrust investigation of whether several of the largest global banks conspired to rig trading in unsecured bonds issued by Fannie Mae and Freddie Mac.

The bank earned leniency by providing information about other banks accused of rigging trading in the bonds. The cooperation deal emerged Thursday when Pennsylvania's Treasurer, Joe Torsella, announced that Deutsche Bank had agreed to pay $15 million to resolve allegations in a civil lawsuit filed in federal court in Manhattan, that accuses traders at about a dozen large banks of rigging the bond prices...

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