So, Deutsche Bank is under investigation again? This time for cheating the financial markets in order to massively sell-off sovereign bonds causing their value to plummet? What are these guys after??

POLITICO’S Jules Johnston and Silvia Sciorilli Borrelli report that Deutsche Bank is being investigated by a prosecutor in Trani in southern Italy for allegedly manipulating the market in the sale of Italian government bonds (BTPs) in 2011.

“The probe is linked to the German bank’s sale of €7 billion worth of Italian state debt as the country went through a debt crisis that eventually brought down the government of former Prime Minister Silvio Berlusconi. Deutsche Bank said Friday it is cooperating with authorities in Italy.”

“Prosecutor Michele Ruggiero claims the German lender made financial markets believe that Italian sovereign debt was sustainable, while hiding its intentions to sell massive quantities of BTPs which ultimately caused the bonds’ value to plummet. But one Deutsche Bank person close to the matter told POLITICO that this was a “same old, same old” Italian move targeting the bank.”

http://www.politico.eu/pro/italian-prosecutor-probes-deutsche-bank-again/

 

 

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