Corp-Ethics Home
Log In | Register New User
Home Company Search Related Articles Forum (new!)

Company Deutsche Bank [Company Info]
  Track this Company (an email will be sent to you everytime a report is filed about this company)

Date Issue Title
27th Sep 2004 Fraud Investigation Deutsche Bank under investigation

Report
Germany's biggest bank - Deutsche Bank - is being investigated on suspicion it may have manipulated its balance sheet.

The investigation is in connection to a long-running legal dispute with the now-defunct Kirch media group. Deutsche Bank is alleged not to have set aside provisions to cover damages and compensation that a court ordered it to pay to Kirch.

Kirch imploded in 2002 shortly after Deutsche's former boss questioned its creditworthiness in a TV interview.

A probe had been launched against "Deutsche Bank officials", a spokesman for state prosecutors said, without providing any further details.

Back in December 2003, a court in Munich ruled that Deutsche Bank's then chairman Rolf Breuer had violated his duty of client confidentiality by publicly questioning Kirch Group's creditworthiness on television in 2002.

The court ordered Deutsche Bank to pay unspecified compensation to Kirch, but the bank has challenged this ruling.

Shortly after Mr Breuer's remarks, banks began to refuse to lend Kirch any more money and KirchMedia, the main pillar of the Kirch Group, filed for insolvency in April 2002.

Other Reports on Deutsche Bank
Date Issue Company Report
26th Oct 2006 Other Issue Deutsche Bank Mannesmann payouts retrial begins
1st Aug 2006 Other Issue Deutsche Bank Bullied City worker wins $1.5m
11th Apr 2006 Questionable Practice Deutsche Bank Misconduct fine for Deutsche Bank

Related Reports from the Banking Industry
Company Issue Report
Bank of China Fraud Investigation China bankers in US scam charge
Cooperative Bank Other Issue Bank Promotes Ethical Trade
CitiGroup Fraud Investigation South Korea to scrutinise Citigroup
UBS Fraud Investigation UBS expects charges over health group
Bank of Italy Other Issue EU starts action on Bank of Italy
 
Contact Us | Terms of Service | Privacy Policy | Add Report | Links
© 2006 Corp-Ethics.com | Corporate Ethics