The U.S. Department of justice, the institution of tax fraud through shell companies. Both sides agreed now to a comparison.
Deutsche Bank has a legal dispute in the USA, by a comparison with the U.S. Department of justice. The money house have agreed to a payment of $ 95 million, informed a New York Federal Prosecutor. The US authorities had accused the Frankfurt money house, in the year 2000 on a network of air bookings and front companies in a large scale tax evasion. The US government had sued Deutsche Bank in original in payment of more than $ 190 million.
Until the end of December had reached an agreement with the Deutsche Bank with the U.S. Department of justice on a total of 7.2 billion Dollar settlement. The dispute concerned the settlement of civil law claims in connection with the issuance of mortgage-backed securities between 2005 and 2007. Germany’s largest Bank was accused of such shops to the collapse of the US housing market in 2008 contributed to this. The original claim, the maximum penalty for a foreign Bank, the authorities have imposed in the U.S. ever would be.
For the Bank are the uncertainties on the cost for the numerous legal disputes, one of the biggest stress factors. They slowed down the renovation. In the past years, the Deutsche Bank had to provide more than twelve billion euros of penalties ready – among other things due to the participation in interest rate manipulation (Libor), a controversial mortgage transactions and breaches of trade sanctions.