Deutsche Bank not 'untouchable'

Deutsche Bank - Foyer Undersphere

Manfred Noetzel has a message for Deutsche Bank: Don’t mess with Bavarian justice.

Bloomberg News reports that a day after his Munich’s Prosecutors Office sealed a $100 million settlement with Formula One’s Bernie Ecclestone in August, Noetzel’s team slapped criminal charges on five current and former executives at Germany’s largest bank.

Noetzel, 64, is taking his fight on crime to the heart of the country’s financial industry as he reaches the pinnacle of a career that spans more than three decades and blazes a trail through the boardrooms of companies from Siemens AG to MAN SE and now Deutsche Bank.

'Today, there’s no company that could say: ‘We’re untouchable, no one can get us,’' Noetzel, chief of the Munich prosecutor’s office, said in an interview. 'Those times are over.'

The bank officials, including Co-Chief Executive Officer Juergen Fitschen and former CEOs Josef Ackermann and Rolf Breuer, were charged with attempted fraud for allegedly misleading a Munich appeals court in a lawsuit by the late media magnate Leo Kirch.

'To have yourself taken for a ride by deliberately wrong statements, aimed at subverting a clearly justified civil claim - no one puts up with that,' Noetzel said. 'Neither does the Bavarian judiciary. The integrity and impartiality of the administration of justice must be protected.'

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

Deutsche Bank Latest ‘Untouchable’ Target for Prosecutor

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