Deutsche Bank Pays $100MM To Resolve Chinese Bribery Scandal

Read more on this subject: Central Banks/Banking
News Story Source: https://www.zerohedge.com, by Tyler Durden
The massive penalty Goldman paid to resolve criminal proceedings tied to its role in helping a gang of corrupt plutocrats ransack a public development fund erased the fruits of a "blockbuster" quarter.

But out of nowhere, it looks like Deutsche Bank, which racked up more than $20BN in fines in the decade after the financial crisis, has emerged to defend its throne. To wit, the New York Times reported Friday that Deutsche Bank is expected to shell out $100MM to settle criminal charges that the bank bribed Chinese officials for business in the country. Bribing foreign officials to win business or access is a blatant violation of the Foreign Corrupt Practices Act.

The NYT added that the settlement would be, for Deutsche Bank, the latest black eye tied to its business in China and Russia. Back in 2019, the bank agreed to pay the SEC $16MM to resolve allegations that it bribed officials to win lucrative business deals. It looks like the settlement is tied to a
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