German Authorities Confirm Broker's Role In International Foreign Exchange Fraud Ring

BANKS

German officials confirmed reports that a Frankfurt brokerage firm was involved in an international foreign exchange fraud ring and was responsible for defrauding Unibank for about $3 to $4 million dollars, according to Hubert Harth, press officer for the Staatsanwaltschaft in Frankfurt. He says four brokers from that firm, which he declines to name, are currently under investigation. However, sources close to the investigation say that the broker involved is Inter Money of Frankfurt, not, a