HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Deutsche Bank Will Pay $1...

Fri Jan 8, 2021, 06:43 PM

Deutsche Bank Will Pay $125 Million Over Bribery Violations

For nearly seven years it seemed like a good way to drum up business for Deutsche Bank: pay millions of dollars to consultants in countries like Saudi Arabia, the United Arab Emirates, Italy and China.

But federal authorities in the United States said those payments — often listed as “referral fees” in the bank’s records — were actually bribes to politically connected fixers that gave the scandal-marred German bank access to foreign officials. And on Friday, Deutsche Bank agreed to pay more than $125 million to resolve criminal and civil investigations into those and other practices.

The investigation by the Justice Department and the Securities and Exchange Commission found that Deutsche Bank had made about $7 million in improper payments to foreign fixers between 2009 and 2016, earning about $35 million from the deals that resulted.

The bank avoided having to plead guilty in the criminal component of the investigation by entering into a deferred prosecution agreement with the Justice Department at a hearing in Brooklyn federal court. The fine also resolved the civil component of the investigation by the S.E.C.

https://www.google.com/amp/s/www.nytimes.com/2021/01/08/business/deutsche-bank-bribery-charges.amp.html

7 replies, 277 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 7 replies Author Time Post
Reply Deutsche Bank Will Pay $125 Million Over Bribery Violations (Original post)
Guy Whitey Corngood Jan 8 OP
ansible Jan 8 #1
Guy Whitey Corngood Jan 8 #4
Frustratedlady Jan 8 #2
gratuitous Jan 8 #3
dlk Jan 8 #5
fleur-de-lisa Jan 8 #6
dlk Jan 8 #7

Response to Guy Whitey Corngood (Original post)

Fri Jan 8, 2021, 06:46 PM

1. In China, billionaires can get executed for corruption

Just saying...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to ansible (Reply #1)

Fri Jan 8, 2021, 06:51 PM

4. These kind of stories are enough to almost make me reconsider my opposition to the DP.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Guy Whitey Corngood (Original post)

Fri Jan 8, 2021, 06:49 PM

2. Is this an offshoot to the Trump case? Sounds close...

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Guy Whitey Corngood (Original post)

Fri Jan 8, 2021, 06:51 PM

3. Thank goodness they didn't have to face any criminal sanctions

I wonder why this agreement got finalized and announced today of all days?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Guy Whitey Corngood (Original post)

Fri Jan 8, 2021, 07:03 PM

5. That's just throwaway money for Deutschebank

Part of their cost of doing business.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to dlk (Reply #5)

Fri Jan 8, 2021, 07:05 PM

6. Yep, and certainly not a deterrent. They're probably already at it again.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to fleur-de-lisa (Reply #6)

Fri Jan 8, 2021, 07:06 PM

7. It's doubtful they every stopped

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread