Commerzbank said poised to settle sanctions investigations

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Commerzbank is poised to put a half-decade of legal woes behind it as it prepares to settle parallel U.S. investigations into sanctions violations and allegations about the bank’s role in one of Japan’s biggest accounting scandals, according to two people familiar with the matter.

Bloomberg News reports that the bank is prepared to enter this week into an agreement with the Justice Department to avoid at least three criminal prosecutions, one of the people said.

It will pay as much as $1.45bn in settlements with nearly a half-dozen government agencies, which also include the Manhattan District Attorney, the Federal Reserve and the U.S. Treasury Department.

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Commerzbank Said Poised for U.S. Settlement to End Probes

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