You have to pay Deutsche Bank a lot for bribery and market manipulation

A Reuters reported that the bank had reached an agreement with the U.S. Department of Justice (DoJ) to postpone the proceedings for three years and also entered into a civil law agreement with the Securities and Exchange Commission (SEC).

Almost all of the fine was imposed on the bank for violating a U.S. law called the Foreign Corrupt Pracites Act (FCPA), with violations against Saudi Arabia, Abu Dhabi, China and Italian partners, according to court documents, two-thirds of the nearly $ 125 million payment criminal fine.

A spokesman for the bank said they would take responsibility for the acts in the case between 2008 and 2017, conduct a comprehensive internal investigation and cooperate fully with the authorities.

Reuters recalls that after five years, the bank wants to be profitable again, to do so it is shutting down many of its activities and making 18,000 redundancies in those years.

Cover image: Getty Images


Source: Portfolio.hu – Bank by www.portfolio.hu.

*The article has been translated based on the content of Portfolio.hu – Bank by www.portfolio.hu. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!