Stock Market News
Deutsche Bank must face lawsuit over ties to oligarchs, Jeffrey Epstein, other risky clients
2022.06.14 00:50
FILE PHOTO: The headquarters of Germany’s Deutsche Bank are pictured in Frankfurt, Germany, September 21, 2020. REUTERS/Ralph Orlowski/File Photo
NEW YORK (Reuters) – A U.S. judge said Deutsche Bank AG (NYSE:DB) must face a shareholder lawsuit claiming it concealed shortfalls in its know-your-customer and anti-money laundering systems, while doing business with financier Jeffrey Epstein, Russian oligarchs and other wealthy, risky clients.
U.S. District Judge Jed Rakoff in Manhattan said shareholders may also pursue claims against the German bank’s Chief Executive Christian Sewing and his predecessor John Cryan.
He dismissed claims against the bank’s chief financial officer and his predecessor.
