Former Deutsche Bank trader Andreas Hauschild has been arrested in Italy and may be extradited to the UK to face charges that he helped rig a key interest rate benchmark, the UK’s Serious Fraud Office said.
He’s being held after a trip to the country activated a European arrest warrant issued by the SFO. He was charged in the UK in 2015 with 10 other traders from around the world but escaped trial in the UK because Germany rejected an extradition request.
“We confirm Andreas Hauschild was arrested on a European arrest warrant last month in Italy. An extradition hearing is due to take place in Milan next month,” a spokeswoman for the SFO said Friday.
Mr Hauschild’s German defence attorney, Eren Basar, is out and will return Monday, his law office said. Officials at Commerzbank and Deutsche Bank declined to immediately comment. A call to Mr Hauschild’s mobile phone wasn’t immediately answered.
The 54-year-old was one of four former German traders who didn’t take part in a Euribor trial earlier this year after the SFO lost the extradition bid. A Frankfurt court in March ruled the alleged crimes had taken place too long ago to be tried.
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Two other traders were convicted in the Euribor case, while a jury was unable to reach a verdict on three Barclays Plc traders. One Deutsche Bank manager was cleared by the jury. They were accused of working together to fix the euro interbank offered rate, the interest rate benchmark behind trillions of dollars worth of securities.
Mr Hauschild, however, was only safe as long as he stayed in Germany as the Frankfurt ruling isn’t valid outside the country.
His case echoes that of Oliver Schmidt, the former Volkswagen AG manager who was arrested in Miami in January 2017 after leaving his home country -- where he would’ve been safe from extradition -- despite warnings from the company and several lawyers. Mr Schmidt was later sentenced to a seven-year term he’s currently serving in Michigan.
Mr Hauschild was part of Deutsche Bank’s trading pool in Frankfurt, though, after 16 years, he left the lender to become Commerzbank AG’s global head of risk in 2006. While working as a banker, Mr Hauschild earned several business degrees and was this year studying for an executive MBA at the Frankfurt School of Finance.
The European arrest warrant -- an agreement that facilitates extradition between European countries, and enabled Mr Hauschild’s arrest -- faces an uncertain future in the UK after the country leaves the European Union in March 2019. The departure may not automatically invalidate the existing warrant against Mr Hauschild, but UK police said this week they may need to revert to older and more bureaucratic systems after Brexit.
A German university was a good fit for the family budget
Annual fees for the Technical University of Munich - £600
Shared rental accommodation per month depending on the location ranges between £200-600
The family had budgeted for food, books, travel, living expenses - £20,000 annually
Overall costs in Germany are lower than the family estimated
As proof that the student has the ability to take care of expenses, international students must open a blocked account with about £8,640
Students are permitted to withdraw £720 per month
UAE currency: the story behind the money in your pockets
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The biog
Favourite hobby: I love to sing but I don’t get to sing as much nowadays sadly.
Favourite book: Anything by Sidney Sheldon.
Favourite movie: The Exorcist 2. It is a big thing in our family to sit around together and watch horror movies, I love watching them.
Favourite holiday destination: The favourite place I have been to is Florence, it is a beautiful city. My dream though has always been to visit Cyprus, I really want to go there.
The%20specs
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The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
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The specs
Engine: Direct injection 4-cylinder 1.4-litre
Power: 150hp
Torque: 250Nm
Price: From Dh139,000
On sale: Now
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Company%20profile
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The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
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Results:
5pm: Maiden (PA) Dh80,000 1,400m | Winner: Eghel De Pine, Pat Cosgrave (jockey), Eric Lemartinel (trainer)
5.30pm: Maiden (PA) Dh80,000 1,400m | Winner: AF Sheaar, Szczepan Mazur, Saeed Al Shamsi
6pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (PA) Group 3 Dh500,000 1,600m | Winner: RB Torch, Fabrice Veron, Eric Lemartinel
6.30pm: Sheikh Zayed bin Sultan Al Nahyan National Day Cup (TB) Listed Dh380,000 1,600m | Winner: Forjatt, Chris Hayes, Nicholas Bachalard
7pm: Wathba Stallions Cup for Private Owners Handicap (PA) Dh 70,000 1,400m | Winner: Hawafez, Connor Beasley, Ridha ben Attia
7.30pm: Handicap (PA) Dh 80,000 1,600m | Winner: Qader, Richard Mullen, Jean de Roaulle
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
ABU DHABI ORDER OF PLAY
Starting at 10am:
Daria Kasatkina v Qiang Wang
Veronika Kudermetova v Annet Kontaveit (10)
Maria Sakkari (9) v Anastasia Potapova
Anastasia Pavlyuchenkova v Ons Jabeur (15)
Donna Vekic (16) v Bernarda Pera
Ekaterina Alexandrova v Zarina Diyas
Match info
Liverpool 4
Salah (19'), Mane (45 2', 53'), Sturridge (87')
West Ham United 0
The biog
Favourite book: Men are from Mars Women are from Venus
Favourite travel destination: Ooty, a hill station in South India
Hobbies: Cooking. Biryani, pepper crab are her signature dishes
Favourite place in UAE: Marjan Island
'Ghostbusters: From Beyond'
Director: Jason Reitman
Starring: Paul Rudd, Carrie Coon, Finn Wolfhard, Mckenna Grace
Rating: 2/5
Sting & Shaggy
44/876
(Interscope)
Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
FORSPOKEN
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Starfield
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COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
How to register as a donor
1) Organ donors can register on the Hayat app, run by the Ministry of Health and Prevention
2) There are about 11,000 patients in the country in need of organ transplants
3) People must be over 21. Emiratis and residents can register.
4) The campaign uses the hashtag #donate_hope
Why your domicile status is important
Your UK residence status is assessed using the statutory residence test. While your residence status – ie where you live - is assessed every year, your domicile status is assessed over your lifetime.
Your domicile of origin generally comes from your parents and if your parents were not married, then it is decided by your father. Your domicile is generally the country your father considered his permanent home when you were born.
UK residents who have their permanent home ("domicile") outside the UK may not have to pay UK tax on foreign income. For example, they do not pay tax on foreign income or gains if they are less than £2,000 in the tax year and do not transfer that gain to a UK bank account.
A UK-domiciled person, however, is liable for UK tax on their worldwide income and gains when they are resident in the UK.
