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Days after Trump’s private wealth manager at Deutsche Bank resigns, Deutsche admits scheme where a private wealth manager and bankers facilitate bribes to Saudi/Emirati officials in exchange for business, starting in 2011-13.
The deferred prosecution agreement omits details about who the private wealth manager and bankers were, but indicates that at least some were in New York offices through which payments were cleared.
Also important to note: Deutsche Bank must cooperate on this and any other investigation during the course of the deferred prosecution agreement (which I believe is 2-3 years).
Read the full charging sheet here:
https://assets.documentcloud.org/documents/20446045/deutsche-bank-information.pdf
https://assets.documentcloud.org/documents/20446045/deutsche-bank-information.pdf
In the last few years, Deutsche’s New York office has been implicated in a massive mirror trading money laundering scheme with Russia and Jeffrey Epstein’s efforts to launder money.
Lapses in anti-money laundering detection in Epstein’s accounts were part of $150 million settlement last June. https://www.nytimes.com/2020/07/07/business/jeffrey-epstein-deutsche-bank-settlement.html
And the massive mirror trading scheme with Russia that ran through London and New York launched a series of criminal and civil fines against the bank. https://www.reuters.com/article/us-deutsche-mirrortrade-probe-scheme-idUSKBN15F23H
