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Deutsche Bank settles Libor manipulation investigation for $2.5 billion
Deutsche Bank settles Libor manipulation investigation for $2.5 billion

Deutsche Bank will pay $2.5 billion to an array of New York, U.S. and British regulators to settle a long-running investigation into alleged manipulation of a key interest rate benchmark known as Libor. The settlement, the largest rate-manipulation settlement so far, is the latest iteration of a string of scandals to have rocked the banking industry in the years after the financial crisis of 2008. As part of its settlement with the U.S. Justice Department, a unit of the German banking giant agreed to plead guilty to a single count of wire fraud for engaging in a scheme to defraud so-called counterparties -- its trading partners -- while the parent company agreed to a deferred prosecution...

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