Deutsche Bank AG agreed to pay more than $124 million to avoid prosecution and resolve charges it violated U.S. anti-bribery and commodities trading laws, the latest blow for the German bank as it tries to repair its image after a series of scandals.
The payout, roughly two-thirds of which is a criminal fine, is part of a three-year deferred prosecution agreement with the U.S. Department of Justice, and a related civil settlement with the U.S. Securities and Exchange Commission.
Both accords were made public on Friday at a hearing in the federal court in Brooklyn, New York.
Full report at Reuters: Link
Deutsche Bank agreed Friday to pay fines and penalties of more than $124 million (€1.02 million) to avoid criminal prosecution in the United States on charges it participated in a bribery scheme to win business in Saudi Arabia.
Full report from Deutsche Welle at MSN: Link