robert99
On the boat
Deutsche Bank charged in Italy probe as legal hits mount
Six current and former managers of Deutsche Bank AG - including ex-asset and wealth management head Michele Faissola - along with former executives at Nomura Holdings Inc. and Banca Monte dei Paschi di Siena SpA were charged in Milan for colluding to falsify the accounts of Italy's third-biggest bank and manipulate the market.
A judge in Milan approved a request by prosecutors to try 13 bankers on charges over separate derivative transactions Paschi arranged with the securities firms, said a lawyer involved in the case, who attended the closed-door hearing Saturday, where the decision was announced.
The charges deal another blow to Deutsche Bank, which is seeking to reassure investors and clients that it will be able to withstand pending US penalties over the bank's sale of mortgage-backed securities and its dealings with some Russian clients.
Six current and former managers of Deutsche Bank AG - including ex-asset and wealth management head Michele Faissola - along with former executives at Nomura Holdings Inc. and Banca Monte dei Paschi di Siena SpA were charged in Milan for colluding to falsify the accounts of Italy's third-biggest bank and manipulate the market.
A judge in Milan approved a request by prosecutors to try 13 bankers on charges over separate derivative transactions Paschi arranged with the securities firms, said a lawyer involved in the case, who attended the closed-door hearing Saturday, where the decision was announced.
The charges deal another blow to Deutsche Bank, which is seeking to reassure investors and clients that it will be able to withstand pending US penalties over the bank's sale of mortgage-backed securities and its dealings with some Russian clients.