Deutsche Bank, JP Morgan, UBS, Hypo Real Estate Holding Charged With Derivatives Fraud (DB,JPB,UBS)
3/17/2010- Deutsche Bank (NYSE: DB), JP Morgan Chase (NYSE: JPM), UBS (NYSE: UBS) and Hypo Real Estate Holding AG's Depfa Bank unit were cha r ged with fraud linked to the sale of derivatives to the city of Milan, according to a Bloomberg report.
The banks allegedly misled Milan on swaps that adjusted interest payments on 1.7 billion euros of borrowings.
UBS, JP Morgan, and Deutsche Bank officials have not commented on the matter.
Write to Chip Brian at cbrian@tradethetrend.com
---------------------------------------------------------------------------------------------
SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup
