€840M Bribery Suit Against Deutsche Bank Kicks Off In UK

Law360, London (May 8, 2019, 9:28 PM BST) -- A Dutch housing association accused Deutsche Bank of supporting the bribery of its former treasury manager to secure dozens of interest rate swaps, during opening arguments Wednesday in the organization’s €840 million ($940 million) case.

A lawyer for Stichting Vestia, one of the Netherlands’ largest affordable-housing providers, told the court Wednesday that Deutsche Bank was “responsible in law for the undoubted bribery of Vestia’s Treasury and Control manager Marcel de Vries.”

After one two-day London stay hosted by Deutsche Bank and its representatives in May 2008 — complete with a night at a private club once frequented by royals and bottles...

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