Deutsche Bank fined for defrauding the U.S. tax

Deutsche Bank has agreed to pay 553.6 million dollars (about 423 million euros) in exchange for abandoning American justice proceedings against him for participating in tax fraud between 1996 and 2002.

Survey American justice visa ‘participation in various bank transactions such as tax profit achieved for customers between 1996 and 2002’, reads the communique.

Agreement to end an investigation into the U.S. subsidiary of Deutsche Bank, Bankers Trust investment bank, bought by German group in 1999. Bankers Trust had helped its U.S. clients to defraud the IRS.

‘Deutsche Bank is satisfied that the investigation that the transactions that ended more than eight years ago, has now reached the final, “added the communiqué.

German Bank says that provision has already been required to pay the fine, which will affect its financial results for 2010.

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