Author Topic: Re: US probes Deutsche Bank's dealings with Malaysia's 1MDB -WSJ  (Read 101 times)

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Offline mallard

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New Straits Times [Malaysia] 7/13/19
US probes Deutsche Bank's dealings with Malaysia's 1MDB -WSJ
https://www.nst.com.my/news/nation/2019/07/503442/us-probes-deutsche-banks-dealings-malaysias-1mdb-wsj

The US Justice Department is investigating whether Deutsche Bank AG violated foreign corruption or anti-money-laundering laws in its work for state fund 1Malaysia Development Berhad (1MDB), the Wall Street Journal said on Wednesday.

The news comes after the bank announced plans to scrap its global equities unit, cut some fixed-income operations and slash 18,000 jobs globally in a 7.4-billion-euro (US$8.34-billion) restructuring program.

Deutsche Bank’s work for 1MDB included helping to raise US$1.2 billion in 2014 as concerns about the fund’s management and financials had begun to circulate, the newspaper said, citing unidentified people familiar with the matter.

Prosecutors are mainly looking into the role of Tan Boon-Kee, a colleague of a former Goldman Sachs Group Inc executive, Tim Leissner, who worked with him on 1MDB-related business, the paper said.

She left Goldman to become Asia-Pacific head of banking for financial institutions clients at Deutsche Bank, where she was involved with further 1MDB dealings, it added.

In an emailed statement, Deutsche Bank said it had fully cooperated with all regulatory and law enforcement agencies that made inquiries about the fund.

“As stated in asset forfeiture complaints filed by the US Department of Justice, 1MDB made ‘material misrepresentations and omissions to Deutsche Bank officials’ in connection with 1MDB’s transactions with the bank,” the bank told Reuters.

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Today's Star features a story with a beaming-faced Najib touting a new alliance between the two main all-Malay parties UMNO & MAS. Good thing for a multi-ethnic ruling party being in place to put them in their place - especially with that skunk still even in their midst, nevermind pulling strings for a ... Malay-rule reality paradigm shift long overdue.

Waiting for that Jho Low to either return in custody or turn up dead in the next 72 hrs.
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Online Rudi Jan

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Re: US probes Deutsche Bank's dealings with Malaysia's 1MDB -WSJ
« Reply #1 on: July 14, 2019, 06:15:45 AM »
New Straits Times [Malaysia] 7/13/19
US probes Deutsche Bank's dealings with Malaysia's 1MDB -WSJ
https://www.nst.com.my/news/nation/2019/07/503442/us-probes-deutsche-banks-dealings-malaysias-1mdb-wsj

The US Justice Department is investigating whether Deutsche Bank AG violated foreign corruption or anti-money-laundering laws in its work for state fund 1Malaysia Development Berhad (1MDB), the Wall Street Journal said on Wednesday.

Just the people to investigate financial crimes. Meanwhile the (((bank))) has squirreled away anything of value while parking the garbage in a zombie bank.

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