Deutsche Bank Settles $21.8M Metals Fraud Suit

By Silvia Martelli (November 19, 2021, 5:23 PM GMT) -- Deutsche Bank AG has settled a $21.8 million lawsuit brought by a Swiss commodities trading house over the bank's role as middleman in a deal for 13,000 metric tons of aluminum that the trader never received.

In an order dated Nov. 15, which has now been made public, High Court Judge Sara Cockerill signed off a deal resolving a case brought by Mercuria Energy Trading PTE Ltd. over an allegedly fraudulent aluminum transaction in which the bank says it only financed the spurious deal.

The two sides settled on Nov. 11, according to the Tomlin order, which allows the companies to...

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