Deutsche Bank to pay $100 million to avoid bribery charge
January 8, 2021 11:07AM AKST
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)
By TOM HAYS Associated Press
NEW YORK (AP) — Deutsche Bank has agreed to pay fines and penalties of more than $100 million to avoid a criminal prosecution on charges it participated in a foreign bribery scheme involving Saudi Arabia. Lawyers for the bank waived its right to face an indictment on conspiracy charges Friday during a teleconference in New York City. Federal prosecutors didn’t reveal at the hearing which nations were involved. Deutsche Bank said it had cooperated with federal authorities. The bank’s agreement to avoid prosecution comes in the waning days of the administration of President Donald Trump. He had a longtime personal business association with the bank.
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