The US authorities said on Friday (local time) that the largest German bank would pay 130 million dollars (115 million francs). In addition, the credit institution has committed itself to cooperate with the investigative authorities.
According to the US Department of Justice, employees of Deutsche Bank are said to have teamed up with a Saudi Arabian advisor to make a bribe payment of more than one million dollars. The bank had “knowingly and willingly” incorrectly documented the process.
According to the Justice Department, another case involved the payment of more than three million dollars to an advisor from Abu Dhabi “without invoicing”.
Further allegations of the US judiciary against Deutsche Bank relate to price manipulation by financial professionals of Deutsche Bank in New York, Singapore and London in trading in precious metal contracts. The incidents are said to have occurred between 2008 and 2013. During this time the Swiss Josef Ackermann was CEO of the bank.
“We take responsibility for all these events that happened between 2008 and 2017,” said a spokesman for Deutsche Bank. The company has already taken considerable measures to repair the damage, including the hiring of employees and technological modernization to counter structural deficiencies, it said.
–
