A former star derivatives trader at Deutsche Bank has been stripped of about £34m in bonuses after he was fired for alleged involvement in a conspiracy to manipulate Libor inter-bank interest rates.

Christian Bittar, who was dismissed in December 2011, is believed to have received some of the biggest bonuses ever awarded by the German bank. A portion of these payouts were deferred, however, which has allowed the bank in effect to block some €40m in staggered bonus instalments.

Bittar had been a top trader with the investment banking arm of Deutsche Bank built up by Anshu Jain, who is now joint chief executive.

The bank said in July of last year that an internal investigation had discovered some misconduct by individuals, though these bankers are understood to have left since. It has set aside a pot of money to deal with possible claims against the bank relating to allegations of rate-fixing.

A spokesman said on Friday: "Upon discovering that a limited number of employees acted inappropriately, we have sanctioned or dismissed employees, clawed back the unvested compensation of employees and will continue to do so as we complete our investigation."

Bittar, who works for the Belgravia-based hedge fund Bluecrest Capital, was named in press reports last summer as being among a small group of bankers whose past communications were being pored over by investigators looking at allegations that interbank interest rates had been manipulated over several years. Bittar and Bluecrest declined to comment.

Regulators in America and Britain are examining emails between the former Deutsche Bank trader and a former Barclays trader to establish whether there was a plot to fix rates and boost the value of certain trades between 2006 and 2007, according to a Bloomberg report. Former traders at other banks – Crédit Agricole SA, Société Générale and HSBC – are also under scrutiny.

"The Libor affair sickens us all," Jain said this week. "I don't think any CEO thought this was a possibility. It sickens me the most of all the scandals."

Nevertheless, a spokesman on Friday stressed that the trading strategy of those former Deutsche Bank traders under scrutiny was "based on a legitimate market view that diversified and lowered the bank's portfolio risk during the peak of the financial crisis".

Deutsche Bank said it was adamant that "to date we have found no link between the inappropriate conduct of a limited number of employees and the profits generated by these trades".

Separately, the identities of some 104 current and former Barclays staff referred to anonymously in regulatory documents outlining the bank's £290m fine for rigging Libor have been released as part of an on-going case against the bank for mis-selling of interest-rate swaps.

The finance director, Chris Lucas, and head of the investment bank, Rich Ricci, are on the list, as is the former head of compliance Stephen Morse, who has since moved on. Former chief executive Bob Diamond is also named.

This list names bankers whose emails were reviewed by the various regulators investigating the rigging on the benchmark rate. They were released after former and current employees of the bank lost their attempt in the high court to keep their identities secret in a case of interest rate swap mis-selling led by Guardian Care Homes.

In releasing the names, after an application by the media, the judge stressed that inclusion on the list did not imply they were implicated in any wrongdoing, and some were definitely not involved.

Barclays is contesting the case. "This started as an alleged mis-selling case, which the bank considers has no merit. The addition of a claim based on what happened with Libor does not change the bank's view. The fact that someone's documents were reviewed by the bank during its review of millions of documents does not mean that such person was involved in any wrongdoing."