July 4, 2019 / 2:09 PM / 12 days ago

Former Deutsche Bank manager acquitted in London over Euribor rigging

LONDON, July 4 (Reuters) - A former Deutsche Bank managing director has been cleared of conspiring to manipulate global Euribor interest rates by a London jury.

Andreas Hauschild, who ran the German bank’s Frankfurt team responsible for rate submissions, was found not guilty by a jury at Southwark Crown Court, said a spokeswoman for the UK Serious Fraud Office (SFO), which prosecuted the case.

Hauschild was charged with conspiracy to defraud over the alleged manipulation of Euribor (the euro interbank offered rate), a Brussels-based benchmark that helps determine rates on around $180 trillion of global financial contracts and loans.

Reporting by Kirstin Ridley, editing by Sinead Cruise

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