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.
Former Deutsche Bank salesman Shigeru Echigo received a 10-month suspended jail sentence in Tokyo for bribing a pension-fund executive to buy investment products.
A former Deutsche Bank salesman’s admission in a Japanese court that he bribed a pension fund executive with lavish entertainment could attract the attention of prosecutors in other countries.
Former Deutsche Bank salesman Shigeru Echigo admitted to bribery charges in Tokyo and said he acted on instructions from his managers, as authorities push brokerages to be more judicious in entertaining clients.
An employee of Deutsche Bank’s Japanese brokerage unit was arrested Thursday on suspicion of bribery as the securities watchdog recommended penalties against the firm for excessive entertainment spending.