2 replies to this topic

[SemiBizz]

Deutsche Bank HQ Searched in Money Laundering Probe

 

Deutsche Bank (DB - Get Report) shares plunged Thursday after prosecutors in Germany raided the lender's Frankfurt headquarters as part of an ongoing probe into money laundering that has implicated several European banks over the past year.

Around 170 criminal prosecutors and tax inspectors were involved in the search, Frankfurt police officials said, following an allegation that it was the unnamed "major European bank" that helped process around $150 billion in payments linked to the Danske Bank money-laundering scandal that was revealed earlier this year.

 

Deutsche Bank shares were marked 3.75% lower at €8.27 each following news of the raid, a move that extends the stocks year-to-date decline to around 50% and trims its market value to around €16 billion. 

 

 

 

[dougie]

you have been calling for DB's demise accureately for some years now as i recall. it still strikes me that the general public and even most investors are in the dark about the risks this demise entails the global economy.

 

any good articles about that?

[dougie]

i mean, DB is multiples larger (or was) then Lehman.