Deutsche Says It's Not To Blame In $21.8M Metals Fraud Suit

Law360, London (May 13, 2020, 4:50 PM BST) -- Deutsche Bank AG has hit back at allegations it was involved in fraud at a Chinese metal warehouse, saying it had no physical role in handing over aluminum worth $21.8 million to a Swiss commodities trading house.

The German lender denied it had been caught up in the latest legal action over Chinese companies fraudulently overstating the commodities they hold. In its High Court suit, Mercuria Energy Trading PTE Ltd. claims Deutsche Bank acted as the middleman in the purchase of 13,000 metric tons from a third party, Qingdao Decheng Resources Co. Ltd., that it never received.

In defense documents filed...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!