HindustanTimes Sun,28 Dec 2014

Deutsche Bank leadership comes under fire

PTI  Berlin, December 18, 2012
First Published: 22:03 IST(18/12/2012) | Last Updated: 22:05 IST(18/12/2012)

Top German politicians have sharply criticised Deutsche Bank’s new leadership for “attempting to influence the judiciary” after Juergen Fitschen — who along with India-born Anshu Jain is co-chairman of the bank — phoned Hessen state’s premier to complain about a police raid over tax fraud allegations.


Hassen premier Volker Bouffier had said on Monday that he received a call from Fitschen in which he complained about the raid saying that the massive police operation on Wednesday last week had damaged the reputation of the largest German lender.

“It was very unusual, but we are in a free nation and everybody can make complaints,” said Bouffier.

He said he told Fitschen that the state government is not responsible for the raid.

More than 500 police officials and tax inspectors swooped on the bank’s headquarters in Frankfurt and its branches and private properties in Berlin and in Duesseldorf as part of a long-running probe into the bank’s role in tax fraud and money laundering related to the European Union’s carbon trade scheme.

The state prosecutor’s office in Frankfurt announced after the raid that it was extending the investigations to Fitschen and chief financial officer (CFO) Stefan Krause.

Police arrested six employees of the bank, five of whom are in preventive custody.

Altogether 25 employees of the bank are currently under investigation, according to the prosecutor’s office.

more from Banking

CCEA gives nod for IDFs to take over bank loans

In a move that could boost the cash-starved infrastruc­ture sector, the Cabinet Committee on Economic Affairs on Tuesday gave its clearance for infrastructure debt funds (IDFs) to take over existing bank loans.
Most Popular
Copyright © 2014 HT Media Limited. All Rights Reserved