Deutsche Boerse boss insists insider trading claims ‘unfounded’

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The boss of Deutsche Boerse has insisted that insider trading allegations made against him, which threaten to derail the German’s group’s merger with the London Stock Exchange, are “unfounded”.

Carsten Kengeter faces intense scrutiny after authorities raided his office and apartment earlier this month looking for information regarding purchases he made of Deutsche Boerse stock worth about €4.5m (£3.8m) in December 2015. Investigators are trying to ascertain whether the shares were bought while the German company was in secret deal talks with the LSE.

The claims have overshadowed the tie-up between the two exchanges, which would create an industry giant. But Mr Kengeter sought to reassure investigators today that both he and Frankfurt-based Deutsche Boerse “are fully co-operating with the public prosecutor” and insisted that insider trading would go against his “innermost conviction”.

Source: TheTelegraph

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