On Feb. 12, ASIC issued sentence for DB trader false entries.
- Court sentenced DB futures trader, Andrew Donaldson, to 18 months in prison.
Allegations
- Donaldson pled guilty to falsifying internal financial records and system entries.
- While working as a FX, options and futures trader, with Deutsche Bank Sydney.
- Related to his trading in financial products, including US Treasury Note Futures.
- The entries fraudulently showed that he had made large profits of over $31mn.
- Used position dishonestly, having an intent of gaining an advantage for himself.
Settlement
- Jail sentence suspended, and Donaldson was released on his own recognizance
with condition to be of good behavior for 2 years and a security sum of $10,000. - Follows ASIC Sep. 2016, permanent ban, on Donaldson giving financial services.
