Deutsche co-CEO charged

Deutsche Bank - Foyer Bridge

Deutsche Bank Co-Chief Executive Officer Juergen Fitschen and two former CEOs were charged with attempted fraud over the bank’s handling of a civil dispute that dates back more than a decade.

Bloomberg News reports that former CEOs Rolf Breuer and Josef Ackermann were charged over allegations they lied to judges as they tried to rebut claims in the lawsuit filed by one-time media magnate Leo Kirch, Thomas Steinkraus-Koch, spokesman for Munich prosecutors, said in an e-mailed statement on Tuesday.

Ex-Chairman Clemens Boersig and ex-board member Tessen von Heydebreck were also indicted and Deutsche Bank was named as an associated party to the case.

The charges are part of the legacy of the 12-year-long dispute that Deutsche Bank sought to end when it settled with the late Leo Kirch’s heirs in February. The lender paid 925 million euros ($1.2 billion) to resolve the civil cases, hoping the step would appease prosecutors conducting the criminal probe.

Hit the link below to access the complete Bloomberg News article:

Deutsche Bank’s Fitschen Charged Over Kirch Lawsuit

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