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Citigroup futures traders face criminal investigation

A German public prosecutor is considering launching criminal charges of market manipulation against individual futures traders at Citigroup. The maximum penalty for conviction is five years in prison or unlimited fines.

BaFin, Germany's securities regulator, recommended late last night that the office of the public prosecutor in Frankfurt should launch a criminal investigation into the Citigroup traders having concluded an investigation into controversial bond and futures trades by the bank in European government bonds last August.

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