Deutsche Bank paid bribes of more than $1 million to the Saudi BDC for the decision maker in exchange for a lucrative business deal. The bribery occurred between 2009 and 2016.
The German Bank’s agents and employees also allegedly conspired to maintain false books, records, and accounts to conceal payments to the BDC, who is a wife of the decision maker.
Additionally, Deutsche Bank allegedly entered into a contract with an Abu Dhabi BDC to obtain a lucrative business transaction. It alleged paid more than $3 million to the Abu Dhabi BDC without invoices.
Furthermore, the German Bank’s precious metals traders allegedly engaged in a scheme to defraud other traders on the New York Stock Mercantile Exchange and Commodity Exchange.
Its traders allegedly placed orders to buy and sell precious metals future contracts with the intention to cancel the orders before execution. Their fraudulent scheme involved inserting false and misleading information regarding he existence of genuine supply and demand for precious metals futures contracts. Their fraudulent scheme happened between 2008 and 2013.
