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Bank Leu Sacks Two After Forex Trading Losses

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BANK Leu, a Zurich-based private banking subsidiary of the Credit Suisse Group, has sacked two investment advisors after they lost up to 20 million Swiss francs on unauthorized foreign exchange trades.

A spokesperson for the bank says the two former staff -- who have not been named -- were fired last May after their fraud was uncovered by Bank Leu's internal control group.

Bank Leu is now considering legal action against the two advisors, says the spokesperson. The bank's internal control group

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