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KfW Bankers Let Go Over Costly Oversight

Published 1 Min Read

KfW executives Detlef Leinberger and Peter Fleischer have been suspended on full salary following the German state bank’s transfer of €350 million ($511 million) last week in a failed swap deal with Lehman Brothers.

The transfer occured after Lehman announced that it faced bankruptcy.

In a statement, the bank said that it has hired a law firm to examine whether the events that have been identified call for appropriate legal consequences against its two board members who failed to prevent the transfer.

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