Deutsche Bank Said Under Investigation Over Alleged Hidden Losses

Deutsche Bank - External

Germany’s Bundesbank is looking into allegations by former Deutsche Bank employees that the firm hid losses during the financial crisis, a person with knowledge of the matter told Bloomberg.

Bloomberg reports that the central bank’s investigation isn’t at an advanced stage as officials examine the validity of the claims, said the person, who requested anonymity because the proceedings are confidential.

German investigators are planning to fly to New York next week to conduct interviews with people including former bankers, the Financial Times reported Wednesday. Michele Allison, a spokeswoman for Frankfurt-based Deutsche Bank, said the allegations aren’t true.

The claims 'have been the subject of a careful and thorough investigation, and they are wholly unfounded', Allison said in an e-mailed statement. 'We have and will continue to cooperate fully with our regulators on this matter'.

Hit the link below to access the complete Bloomberg article:

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