Deutsche Bank Reaches €175M Deal To End Bribery Suit
Law360, London (July 12, 2019, 3:01 PM BST) -- Deutsche Bank said Friday that it would pay €175 million ($197 million) to settle a Dutch housing association's claims that the lender bribed an employee to get the company to sign onto risky interest rate swaps that caused substantial losses.
The Dutch housing association had sought €840 million ($944 million) in damages from Deutsche, claiming the bank had bribed Vestia's treasury and control manager to enter into risky trades. (AP) The deal with Stichting Vestia resolves all the housing association’s claims at the High Court in London over derivatives transactions Vestia entered into with Deutsche Bank AG without any admission of liability from the...
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