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Enough About Us: Deutsche Traders Want to Focus on Bank Misdeeds

  • Ex-employees say bank framed them to avoid penalties elsewhere
  • Judge says defense can ask witness about other investigations

Deutsche Bank AG faces so many investigations that the company scapegoated two of its own traders in a Libor-rigging case to avoid wider penalties, defense attorneys told a federal judge in New York.

Matthew Connolly and Gavin Black want to shift the focus to Deutsche Bank at their trial on allegations they conspired to rig the benchmark. Their lawyers say the bank has been subject to so many U.S. inquiries -- for manipulating mortgage securities, interest-rate indexes and precious-metals, not to mention laundering cash for Russian oligarchs -- that it’s working with prosecutors to cast unfair blame on Connolly and Black for rigging the London interbank offered rate.