Jan 12 (Reuters) - A senior executive of Deutsche Bank AG has been charged in Hong Kong with accepting bribes in return for giving advice on trading derivative warrants, the city’s anti-graft watchdog said on Thursday.
The Independent Commission Against Corruption (ICAC) said Ma Sin-chi, a 37-year-old managing director at Deutsche Bank, is alleged to have accepted HK$24.8 million ($3.2 million) in bribes as reward for giving advice on the trading of derivative warrants issued by his employer.
Four stock investors, Ha But-yee, 60, Ha Shing-ming, 32, Ha Shing-chi, 29, and Ha Sau-mei, 39, are alleged to have paid the bribes to Ma between Jan. 16, 2007 and May 7, 2008.
The ICAC said all five defendants, who were arrested in April last year in an operation codenamed “Leap Over”, have been granted bail.
It added that Deutsche Bank had offered its full assistance to the agency during the investigation. ($1 = 7.7673 Hong Kong dollars) (Reporting by Rachel Armstrong; Editing by David Holmes)