Trader loses £30m bonus over ‘rigging’ at Deutsche

Christian Bittar, one of the bank’s best-paid traders, has had the scheduled payout “clawed back” by his former employer.
Deutsche Bank dismissed Mr Bittar in 2011 for allegedly colluding with a Barclays trader to fix benchmark interest rates in his favour in order to boost the value of his trades.
The lender said the $53m (£34m) bonuses it has withheld were “unvested compensation”, meaning that Mr Bittar earned them in the years before 2011 but they had yet to pay out.

Read on.

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