Tom Hays
FILE â In this Oct. 4, 2020, file photo, the moon shines next to the headquarters of the Deutsche Bank in Frankfurt, Germany. Deutsche Bank has agreed to pay a fine of more than $100 million to avoid a criminal prosecution on charges it participated in a foreign bribery scheme. Lawyers for the bank waived its right to face an indictment on conspiracy charges Friday, Jan. 8, 2021, during a teleconference with a federal judge in New York City. (AP Photo/Michael Probst, File) January 08, 2021 - 1:25 PM
NEW YORK - Deutsche Bank agreed Friday to pay fines and penalties of about $130 million to avoid a criminal prosecution on charges it participated in a foreign bribery scheme to win business in Saudi Arabia.
Deutsche Bank to pay $130 million to avoid bribery charge FILE In this Oct. 4, 2020, file photo, the moon shines next to the headquarters of the Deutsche Bank in Frankfurt, Germany. Deutsche Bank has agreed to pay a fine of more than $100 million to avoid a criminal prosecution on charges it participated in a foreign bribery scheme. Lawyers for the bank waived its right to face an indictment on conspiracy charges Friday, Jan. 8, 2021, during a teleconference with a federal judge in New York City. (AP Photo/Michael Probst, File) Friday, January 8, 2021 4:24 PM EST By TOM HAYS, AP
NEW YORK (AP) Deutsche Bank agreed Friday to pay fines and penalties of about $130 million to avoid a criminal prosecution on charges it participated in a foreign bribery scheme to win business in Saudi Arabia.
Deutsche Bank has agreed to pay fines and penalties of about 130 million US dollars (£96 million) to avoid a criminal prosecution on charges it participated in a foreign bribery scheme to win business in Saudi Arabia.
Lawyers for the bank, which has longstanding ties to President Donald Trump, waived its right to face an indictment on conspiracy charges during a teleconference with a federal judge in New York City.
According to court papers, Deutsche Bank bribed intermediaries to make deals in Saudi Arabia between 2009 and 2016, labelling the payments as “referral fees” for consultants.
In one instance around 2012, the bank paid one of its fixers 1,087,538 dollars “and caused those payments to be falsely recorded in the company’s books, records and accounts”, the papers said.
Resignation hints at Deutsche Bank turning back on Trump Lender is looking for ways to end its relationship with the outgoing US president after negative publicity 23 December 2020 - 16:33 Kanishka Singh and Shradha Singh Picture: REUTERS/KHAI PFAFFENBACH
Bengaluru Donald Trump’s longtime banker at Deutsche Bank will be stepping down from the German lender, the move coming as the bank looks for ways to cut its relations with the US president.
Rosemary Vrablic, an MD and senior banker in the lender’s wealth management division, recently handed in her resignation, which the bank accepted effective as of year end, Deutsche Bank spokesperson Dan Hunter said in an e-mailed statement.