{"id":6108,"date":"2017-01-30T19:14:07","date_gmt":"2017-01-31T01:14:07","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1418"},"modified":"2022-05-17T14:26:39","modified_gmt":"2022-05-17T19:26:39","slug":"deutsche-bank-fined-630m-10b-bogus-trades-may-tied-russian-money-laundering","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/deutsche-bank-fined-630m-10b-bogus-trades-may-tied-russian-money-laundering\/","title":{"rendered":"Deutsche Bank Fined $630M Over $10B in Bogus Trades That May Have been Tied to Russian Money Laundering"},"content":{"rendered":"

Deutsche Bank AG will pay UK and US regulators $630M in fines to settle allegations that it did not stop approximately $10B in suspect trades that may have involved laundering money out of Russia. The trades at issue were mirror trades between the German lenders offices in New York, London, and Moscow. They took place between \u201911 and \u201915.<\/p>\n

It was during this time that Russian blue chip stocks were purchased in rubles for clients and sold in the same amount of stocks at the equivalent price through Deutsche Bank\u2019s London office soon after. As a result, reports The Guardian<\/em>, funds were transferred through the bank to accounts abroad, including in Latvia, Estonia, and Cyprus.<\/p>\n

Deutsche Bank is accused of not getting information about customers that took part in the mirror trades. As a result, the bank\u2019s DB Moscow executed over 2400 pairs of mirror trades. Sellers were registered in locations offshore. Shares in Russian companies were paid for in rubles, the sellers were paid in dollars.<\/p>\n

Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Deutsche Bank AG will pay UK and US regulators $630M in fines to settle allegations that it did not stop approximately $10B in suspect trades that may have involved laundering money out of Russia. The trades at issue were mirror trades between the German lenders offices in New York, London, and Moscow. 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