Deutsche Bank is set to pay $ 125 million to avoid prosecution in the United States for allegations of corruption and manipulation of precious metals markets, according to Reuters.
Germany’s largest creditor agreed to pay $ 125 million and reached an agreement with the US Department of Justice to delay the trial for three years, in addition to a related civil agreement with the US Securities and Exchange Commission. Home furniture.
Seth Ducharme, an American attorney in New York, said, “Deutsche Bank has hidden payments from consultants around the world, with the payments seen as a way to pay bribes to foreign officials” in order to win and maintain “profitable businesses.”
A spokesman for the bank said, “We bear responsibility for these previous measures, which took place between 2008 and 2017, after” in-depth “internal surveys and full cooperation with the authorities. Deutsche Bank has sought to restore profitability after five years of losses, including by reducing its workforce by 18,000 employees.
The bank also tried to restore its image in Washington, amid several investigations into its relationship with US President Donald Trump, who was one of the bank’s clients. In the case of precious metals, plaintiffs accused Deutsche Bank dealers of conducting fraudulent deals, known as plagiarism, to convince other traders to buy and sell contracts at prices they would not otherwise have available.