Article: Deutsche Bank Settles Fraud Case

Article - Media

Deutsche Bank Settles Fraud Case

Sheryl Jean

St. Paul Pioneer Press, 29 June 2006

Deutsche Bank has settled a lawsuit filed against it by Stockwalk Group to recover losses incurred as part of a massive securities fraud allegedly orchestrated by the German financial giant, a fugitive Saudi arms dealer and other individuals that bankrupted the Minneapolis-based securities firm.

Terms of the settlement, reached last week, are confidential. Local industry insiders estimated the settlement was for tens of millions of dollars.

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