Jump to content
Join the Unexplained Mysteries community today! It's free and setting up an account only takes a moment.
- Sign In or Create Account -
Eldorado

Big Bank will pay $124M to avoid prosecution

Recommended Posts

Eldorado

Deutsche Bank AG agreed to pay more than $124 million to avoid prosecution and resolve charges it violated U.S. anti-bribery and commodities trading laws, the latest blow for the German bank as it tries to repair its image after a series of scandals.

The payout, roughly two-thirds of which is a criminal fine, is part of a three-year deferred prosecution agreement with the U.S. Department of Justice, and a related civil settlement with the U.S. Securities and Exchange Commission.

Both accords were made public on Friday at a hearing in the federal court in Brooklyn, New York.

Full report at Reuters: Link

Deutsche Bank agreed Friday to pay fines and penalties of more than $124 million (€1.02 million) to avoid criminal prosecution in the United States on charges it participated in a bribery scheme to win business in Saudi Arabia.

Full report from Deutsche Welle at MSN: Link

  • Like 1
  • Haha 2

Share this post


Link to post
Share on other sites
 
spartan max2

Meh. Unless you arrest people I doubt the bankers will care or change. Will just try not to get caught next time.

  • Like 3

Share this post


Link to post
Share on other sites
OverSword
Posted (edited)

We only make non-white bankers face actual criminal charges.  See Abacus bank in 2008, owned by people of Chinese ancestry.  Too small for the bailout but not too big to fail.

Edited by OverSword
  • Haha 2

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.