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Sat Jan 9, 2021, 06:52 PM

Deutsche Bank to pay more than $100 million in deferred prosecution agreement with federal prosecuto

CNN
Sonia Moghe
Updated 4:38 PM ET, Sat January 9, 2021

Deutsche Bank entered into a deferred prosecution agreement with federal prosecutors who allege the bank violated anti-bribery laws while doing business abroad. The bank has agreed to pay more than $100 million in penalties, prosecutors announced Friday.

The German bank entered into the agreement with Brooklyn federal prosecutors remotely. The criminal complaint charges the bank with two counts including conspiracy to violate the Foreign Corrupt Practices Act and wire fraud conspiracy affecting a financial institution.

The agreement does not include mention of any connection to an investigation by Manhattan federal prosecutors into whether President Donald Trump misled or defrauded Deutsche Bank by inflating the value of some of his assets. But it does say that Deutsche Bank would "cooperate fully" with other investigations.

The Bank has loaned the Trump Organization more than $300 million, and CNN reported that the private bankers who worked with Trump and son-in-law Jared Kushner resigned weeks before Trump's last day in office.

https://www.cnn.com/2021/01/09/business/deutsche-bank-anti-bribery-fine-agreement/index.html

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Reply Deutsche Bank to pay more than $100 million in deferred prosecution agreement with federal prosecuto (Original post)
Wicked Blue Jan 2021 OP
in2herbs Jan 2021 #1
Bev54 Jan 2021 #2

Response to Wicked Blue (Original post)

Sat Jan 9, 2021, 06:58 PM

1. What is their penalty for non-compliance with the deferred prosecution? Usually these docs contain

coercive penalties for non-compliance. IMO $100 million is pennies to this bank.

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Response to in2herbs (Reply #1)

Sat Jan 9, 2021, 07:16 PM

2. Absolutely right, they have had fines larger than this and it

did not change their behaviour on iota.

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