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NEW YORK (AP) Deutsche Bank agreed Friday to pay fines and penalties of more than $100 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 long 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, labeling the payments as “referral fees.” In one instance around 2012, the bank paid one of its fixers $1,087,538 and caused those payments to be falsely recorded in the company’s books, records and accounts,” the papers said.
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Deutsche Bank to pay US$100 million to avoid bribery charge
FILE PHOTO: The logo of Deutsche Bank is pictured on a company s office in London, Britain July 8, 2019. REUTERS/Simon Dawson/File Photo
09 Jan 2021 03:51AM Share this content
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NEW YORK: Deutsche Bank agreed Friday (Jan 8) to pay fines and penalties of more than US$100 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 long 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.
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.
How Biden Should Investigate Trump
The misdeeds and destructive acts are legion. The new president should focus on these three. Illustration by Katie Martin; photographs by Tom Brenner / Drew Angerer / Getty
I. A Crimes Commission?
As he prepares to occupy the White House, President-elect Joe Biden faces a decision rare in American history: what to do about the man who has just left office, whose personal corruption, disdain for the Constitution, and destructive mismanagement of the federal government are without precedent.
Human beings crave reckoning, even the saintliest among us. Institutions based on rules and laws need systems of accountability. People inside and outside politics have argued forcefully that Biden should take, or at least condone, a maximalist approach to exposing and prosecuting the many transgressions by Donald Trump and his circle that Biden can’t talk about where America is going without clearly addressing where it has been. In