Deutsche Bank announced that it will pay $ 100 million in bribe fees

Deutsche Bank announced that it will pay $ 100 million in bribe fees

Federal prosecutors are expected to announce that Deutsche Bank violated anti-bribery laws while trying to win business in places like China, according to a person familiar with the matter.

Deutsche Bank is expected to agree to pay more than $ 100 million to settle the charges and enter into the so-called deferred prosecution agreement in Brooklyn Federal Court Friday, said the person who spoke on condition of anonymity because the agreement had not been made public.

Such an agreement would be the last black eye for Deutsche Bank, which has been punished repeatedly in recent years for its involvement in money laundering and violating international sanctions. Deutsche Bank in 2019 agreed To pay $ 16 million to the Securities and Exchange Commission to settle allegations that it used corrupt means to win business in China and Russia.

The New York Times reported in 2019 Deutsche Bank has for years lavished Chinese leaders with expensive gifts and paid millions of dollars to policy-tied consultants as the bank tried to raise its profile and lucrative deals in China.

A deal between Deutsche Bank and the Department of Justice will solve a long-running investigation a few days before President Trump leaves office. Over the past two decades, the German bank He was Mr. Trump’s main lender; He now owes more than $ 300 million to Deutsche Bank.

This is a developing story. Check back for updates.

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