Deustche Bank Can't Stop Uncovering (Alleged!) Wrongdoing By Employees

For once the bank would like to investigate a matter and conclude "Everybody's clean." Today is not that day.
Author:
Updated:
Original:

Add the bank's most recent discovery-- which popped up in the midst of investigating a separate matter-- to the list.

Deutsche Bank AG’s internal probe into possible money laundering at its Russian unit has sparked an investigation into whether a senior employee took bribes, people with knowledge of the situation said. The bribery investigation is in its early stages, the people said, requesting anonymity because the matter is private. Unexplained funds were discovered in accounts controlled by the employee and the employee’s spouse, the people said. The people didn’t identify the employee. Deutsche Bank has now broadened its own probe to examine trading activities with 10 to 12 mainly Russian broker counterparties, the people said.

Deutsche Bank Said to Probe Senior Russia Employee Over Bribes [Bloomberg]

Related: Deutsche Bank Can’t Stop, Won’t Stop Paying Paying Legal Fees For Fraud

Related

Layoffs Watch '12: Deutsche Bank Not Yet Finished Telling Employees To Hit The Bricks

These things take time. Deutsche Bank is eliminating about 85 jobs at its Japan and Hong Kong equities units as Europe’s widening debt crisis curbs economic growth in Asia. The bank cut about 15 positions in Tokyo yesterday, and plans to tell 30 employees in equity research, sales and trading today that they will be dismissed, three people with knowledge of the matter said. The Frankfurt-based company trimmed 40 jobs in Hong Kong yesterday, according to another person, who asked not to be identified because the information is private. [Bloomberg]