Former BaFin employee guilty of embezzlement

A German court has found a former employee of BaFin, Germany's top financial markets regulator, guilty of embezzlement. The employee, whose name was not disclosed, was yesterday sentenced to six years in prison.

The court said that the former BaFin employee had embezzled about €6.4m ($8.72m) and had been guilty of breach of trust in 89 cases and of one case of corruption. The judge, Hinrich de Vries, said the defendant was responsible for "the high idealistic and material damage that was cause

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