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Deutsche puts HK traders on leave after anti graft agency arrests

Published 04/15/2011, 05:17 AM
Updated 04/15/2011, 05:20 AM
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HONG KONG/FRANKFURT, April 15 (Reuters) - Germany's Deutsche Bank AG said on Friday that it has put two Hong Kong traders on leave after they were arrested by the city's anti-corruption agency for alleged fraud.

The Independent Commission Against Corruption (ICAC) arrested 11 people on Thursday, including two Deutsche Bank employees, in an operation called "Leap Over".

"Deutsche Bank was advised by the ICAC of the arrest of two employees, both warrants traders in Hong Kong. The two traders were immediately placed on leave from the bank until the matter is resolved," a bank spokesman said. "Should the allegations be found to be true, they will be held fully accountable. Deutsche Bank is not under investigation and it is fully assisting the ICAC with their enquiries." (Reporting by Elzio Barreto and Edward Tyler; Editing by Chris Lewis)

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