Member Directory
Member Directory

Deutsche Bank to Pay $150M Settlement Over Jeffrey Epstein Lapses

Deutsche Bank logo on a concrete wall

Deutsche Bank AG agreed Tuesday to pay a $150 million penalty to settle “significant compliance failures” in its dealings with convicted sex offender and financier Jeffrey Epstein. 

The New York State Department of Financial Services said the bank did not properly monitor Epstein’s transactions, despite widespread public knowledge about his sexual misconduct.  

It said Deutsche Bank’s failure led to its processing of hundreds of Epstein’s transactions that should have been more closely scrutinized, including payments to victims and law firms representing him and his accomplices. 

The state regulator said Deutsche Bank also failed in its relationships with Danske Bank Estonia and FBME Bank by not properly monitoring their correspondent and clearing operations.

Read the source article at VOA News

Contact Us Today

Read More Legal News

The National Trial Lawyers White Logo for Footer
© Copyright 2022, All Rights Reserved | National Trial Lawyers
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram