Italian bond probe

MILAN: German banking giant Deutsche Bank is target of a criminal probe into government bond market manipulation, the bank and plaintiffs said on Friday. Five former Deutsche Bank top managers are being investigated by a prosecutor in Trani, southern Italy, including its ex-chief executive Josef Ackermann, consumer associations Adusbef and Federconsumatori said after filing their legal complaint. They accuse Deutsche Bank of selling 'massive' amounts of Italian government debt between January and June 2011 while publicly stating that the Italian debt situation was 'sustainable'. This they said, had 'altered the normal price formation in the government debt market'.