Charges has been filed and settled against a former managing director of Deutsche Bank AG for fraudulent activities.

The U.S. Commodity Futures Trading Commission said in a statement that charges have been filed and settled against a former managing director for Deutsche Bank AG for fraudulently mismarking swap valuations to conceal significant trading losses.

The statement discloses that the commissioner’s order had required that the trader pay a $350,000 civil penalty for the fraud. It also bars him from exchange trading and seeking registration with the CFTC.

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Tags: activities, CFTC, civil penalty, Commodity Futures Trading Commission, CTTC, Deutsche Bank, former, fraud, fraudulent, mismarking, seek registration, swap valuations, trade, trader, trading losses, U.S, United States