Den Danske Fires Dealer Following Allegations Of Hiding Poor Trades

- By FX Markets Staff
- @FXMarkets_
- 20 Dec 1999

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COPENHAGEN--Den Danske Bank said last week that it has fired a forex trader who had covered up unsuccessful trades.

John Michael, chief dealer at Den Danske in Copenhagen, confirmed that the Swiss franc spot FX trader in the centre--whom he would not identify--had exceeded his trading limits.

The trader--reputed to be one of the most successful this year and presumably expecting a large end of year bonus--left the bank on November 30, said Michael.

Since then the bank has been swamped by

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