Deutsche Bank denies training employees in market manipulation

9 articles · Updated · Private Banker International · May 6

In London, former commodities trader James Vorley is suing for £12m, saying senior colleagues taught him trading that led to his US fraud conviction.
Deutsche told the High Court Vorley had appropriate training and knew or should have known the conduct was unlawful, adding any improper guidance was informal and not bank-approved.
Vorley was jailed in 2020 for spoofing gold and silver futures between 2008 and 2013. The case adds to Deutsche's wider legal troubles after more than €15bn in fines since 2012.

Deutsche Bank admitted to a spoofing scheme, so why does it now blame a single convicted trader?

If your boss teaches you an illegal strategy, who is ultimately responsible when you are convicted?