WestLB, the fifth largest German bank has been going through a bit of a dark period. German financial regulators have charged the bank with rogue trading and local paper have asserted that chairman Thomas R. Fischer and chief risk officer Matthijs van dan Adel altered notes of meetings to conceal the illegal acts which ended up losing the bank millions. Subsequently, due to their role in the cover-up, both Fischer and van dan Adel left / were dismissed from WestLB.

Forbes has further details on how things went down and where WestLB plans to go from here.

-- MDT

Labels: Matthijs van dan Adel, rogue trading, Thomas R. Fischer, West LB