Ex-Deutsche salesman withdraws appeal

Former Deutsche Bank salesman Shigeru Echigo withdrew his appeal of a 10-month suspended prison sentence for bribing a Japanese pension fund official to buy investment products.

Bloomberg News reports that a Tokyo High Court official confirmed that the case was dropped after a hearing scheduled was cancelled. 

The official asked not to be named in accordance with the court’s policy. Lawyers for Echigo didn’t return a call made to their office in Tokyo.

Echigo appealed his sentence in July, claiming that the Tokyo District Court erred in judging that his actions didn’t reflect institutional misconduct at Deutsche Bank’s Japanese brokerage unit.

To access the complete Bloomberg News article hit the link below:

Ex-Deutsche Bank Salesman Withdraws Appeal to Tokyo Court

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