Deutsche Bank is being investigated by the US Department of Justice as part of a wider probe of the 1MDB scandal, the Wall Street Journal reported.
The New York Times also reported that compliance staff at the German bank raised concerns about its deals with Epstein’s firm. They were overruled by senior managers at the bank.
The reports add to Deutsche Bank’s woes. The share price has tanked and the bank just kicked off a brutal round of job cuts and restructuring.
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Deutsche Bank’s bad week is getting worse.
The US government is probing whether the German bank’s work with the Malaysia 1MDB scandal violated foreign corruption or anti-money laundering laws, the Wall Street Journal reported.
It came after The New York Times reported that Deutsche Bank managers overruled compliance staff concerns in their dealings with Jeffrey Epstein, who is facing charges of sex trafficking.
It has been a rough week for Deutsche Bank. When trading opened today the German bank’s shares were down by more than 1%.
After kicking off a brutal round of cuts that will eliminate 18,000 jobs earlier this week, Deutsche Bank has come under fire for “golden parachute” sendoffs for senior …read more
Source:: Businessinsider – Finance