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Charges in the US: New problem for Deutsche Bank

Status: 09.12.2021 09:34 am

Deutsche Bank may have exceeded settlement requirements in the United States. Now a new problem is threatening the American judiciary. It’s about the allegations against the financial subsidiary DWS.

By Franziska Hoppen, ARD-Studio Washington

According to media reports, the U.S. Department of Justice has told Deutsche Bank that it may have violated the requirements of the previous settlement. According to the “Wall Street Journal”, the largest German financial institution hid an internal complaint and did not send it to lawyers in the United States.

Francesca Hoppan
ARD- Studio Washington

In particular, it is about the greenwashing allegations in the subsidiary DWS. The asset manager is said to have lied about fixed investments and so on in his annual report When making investment decisions, they are less guided by environmental or ethical criteria than they are officially stated.. The former head of DWS Sustainability had already voiced support for these allegations in the spring. He gave an interview to the “Wall Street Journal” at the time. This is how the US judiciary came to know about this case.

Million worth of comparison

Over the past few years, Deutsche Bank has repeatedly encountered problems with US officials. It was only in January that the money gave the house a one-million-dollar settlement. In response, criminal proceedings against Deutsche Bank were suspended in the United States. Allegation then: Corruption and bribery abroad. The United States can pursue allegations of bribery beyond its own national borders.

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According to U.S. media reports, part of the Deutsche Bank agreement with U.S. officials was to report further misconduct to supervisors. Now the US Justice Department is investigating the case.