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Deutsche Bank faces criminal investigation by the US

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  • 2 months ago
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Deutsche Bank is facing criminal investigation in the U.S. in connection with alleged failures to comply with anti-money laundering laws.

The investigation is linked to whistle-blower Tammy McFadden, a former compliance officer in the bank’s Jacksonville, Florida, office.

McFadden alleged that in 2016 and 2017 she flagged as potentially suspicious a series of transactions involving entities controlled by President Donald Trump and by his son-in-law Jared Kushner, but her concerns were ignored by the bank.

She was subsequently sacked, and has lodged a complaint with the Securities and Exchange Commission.

One person with knowledge of the investigations said they were triggered after Steven Mnuchin, the Treasury secretary, referred the whistle-blower’s complaints to the Financial Crimes Enforcement Network, which then referred the case to the Department of Justice.

Both the Department of Justice and Deutsche Bank declined to comment.

 

 

Source: Smart Trend Team