Deutsche Said To Have Probe Problems, Merrill Lynch Unit Sued

Deutsche Bank - External

An internal investigation at Deutsche Bank has found that incomplete data related to a carbon tax fraud probe were handed over to prosecutors, German magazine Der Spiegel said last week.

Reuters reports that the magazine, which did not cite any specific sources for its information, said some data relevant to the prosecution's probe might have been deleted by an automated process. It did not say how much data might have been missing.

In the meantime, Bloomberg reports that a unit of Bank of America's Merrill Lynch was sued by a trust seeking more than $309m in damages for alleged breaches of representations and warranties related to the sale of more than 5,000 mortgages.

The trust filed the lawsuit in New York State Supreme Court in Manhattan, accusing Merrill Lynch Mortgage Lending of failing to buy back loans as required by agreements reached in 2007, according to a court filing.

Deutsche Bank probe finds incomplete data given to prosecutors - magazine

Merrill Sued for $309 Million by Trust Over Mortgages

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