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Deutsche Bank fires rogue forex trader in Australia
A Deutsche Bank foreign exchange trader has been sacked and is under investigation by Australian regulators for inflating trades and costing the investment bank up to $5 million in losses, Fairfax Media can reveal. Deutsche Bank confirmed that former currency trader Andy Donaldson was first suspended and then fired in June of this year after the bank uncovered irregularities in the way he was valuing his currency trades. Deutsche Bank's local chief executive James McMurdo declined to comment on the matter. But a spokesperson for Deutsche Bank confirmed that "the bank recently dismissed a trader after checks ... (full story)