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FBI Said to Visit Deutsche Bank Trader in Currency Probe

Deutsche Bank is cooperating with regulators investigating currency markets, it said in an e-mailed statement to Bloomberg today. Photographer: Krisztian Bocsi/Bloomberg
Deutsche Bank is cooperating with regulators investigating currency markets, it said in an e-mailed statement to Bloomberg today. Photographer: Krisztian Bocsi/Bloomberg

Nov. 21 (Bloomberg) -- Agents from the U.S. Federal Bureau of Investigation met with Deutsche Bank AG trader Robert Wallden as part of probe into alleged manipulation of currency markets, according to a person briefed on the matter.

During a visit to Wallden’s home the agents showed him excerpts of electronic communication that suggested he considered himself able to manipulate the markets, said the person, who asked not to be identified because the matter is private. Deutsche Bank hasn’t suspended Wallden, who is based in New York, because there is no evidence he tried to rig foreign exchange prices, the person said.

Deutsche Bank is cooperating with regulators investigating currency markets, it said in an e-mailed statement to Bloomberg today. The bank, based in Frankfurt, declined further comment. Wallden didn’t answer a call placed to his office telephone or respond to an e-mail seeking comment. The Department of Justice’s press office didn’t immediately answer two calls seeking comment.

Bloomberg News reported in June that traders at some banks said they shared information about their positions through instant messages, executed their own trades before client orders and sought to manipulate the benchmark WM/Reuters rates.

Regulators including the Department of Justice, the U.K.’s Financial Conduct Authority and the Swiss Financial Market Supervisory Authority are probing the $5.3 trillion-a-day market.

The Wall Street Journal reported the FBI’s meeting with Wallden earlier.

To contact the reporter on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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