17 Jul 2020
Investors are suing Deutsche Bank and its CEO Christian Sewing, alleging the bank made false and misleading statements before it agreed to pay a $150 million fine for compliance failures linked to disgraced financier Jeffrey Epstein.
The lawsuit was filed on Wednesday in the U.S. District Court in Newark, New Jersey, and seeks unspecified damages.
It claims shareholders lost money because of Deutsche Bank’s (DBKGn.DE) dealings with Epstein, who was implicated in dozens of sexual abuse cases. He died last August at the age of 66 after being found hanging in a Manhattan jail.
New York regulators last week announced Deutsche Bank would pay the fine for “significant compliance failures” over Epstein and two unrelated cases.
By Tom Sims and Jonathan Stempel, Reuters, 16 July 2020
Read more at Reuters
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