Russia central bank says Deutsche Bank employee manipulated markets

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[December 20, 2016]  MOSCOW (Reuters) - Russia's central bank said on Tuesday that a banker at Deutsche Bank's <DBKGn.DE> Russian branch had manipulated markets by conducting 300 billion rubles ($4.87 billion) of trades with relatives over two and a half years.

 

The central bank said the trades, which were made between January 2013 and July 2015, had generated a profit of 255 million rubles ($4.14 million) for Deutsche Bank employee Yuri Khilov and three relatives.

The findings are the result of a long-running investigation into allegations that Deutsche helped clients in Russia disguise suspicious trades.

A Deutsche spokesman in Russia declined immediate comment.

(Reporting by Elena Orekhova; Additional reporting by Olga Popova; Writing by Alexander Winning and Katya Golubkova; Editing by Andrew Osborn)

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