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From $126-mn bonus to jail: The fall of ex-Deutsche Bank star trader

He was called Mr Basis Point by his colleagues at the bank because of his trades on minuscule changes in short-term interest rates

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Christian Bittar

Suzi Ring Gavin Finch & Franz Wild | Bloomberg 

Christian Bittar was once among Deutsche Bank AG’s highest-paid traders, a math whiz who earned a near 90 million-pound ($126 million) bonus in 2008 alone. Now he’s sitting in a UK prison. The 46-year-old former star banker pleaded guilty in a London court on March 2 to conspiring to rig the interest-rate benchmark known as Euribor.

He’s in custody and will be sentenced after a related trial ends this summer. A court lifted reporting restrictions on his plea Thursday. It’s a seminal moment for UK prosecutors in their six-year investigation. Bittar, famous ...

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First Published: Mon, March 19 2018. 16:24 IST
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