Deutsche – Page 5 – Financial Treason & Crime

Zacks, 21 June 2018

Deutsche BankDB has been imposed a penalty of $205 million by the New York regulator for improper foreign exchange trading activities it conducted in the period between 2008 and 2013.

Lately, Deutsche Bank has been cutting back its failing operations globally with a view to save itself from a serious downturn. However, it still remains exposed to a horde of investigations and legal matters that might dent its financials. Continue reading “Article: Deutsche Bank to Pay $205M for Forex Trading Manipulation”

06/20/201803/15/2021

Article: Deutsche Bank fined $205 mn in US for forex manipulation

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Deutsche Bank fined $205 mn in US for forex manipulation

Phys.org, 20 June 2018

US officials fined embattled German banking giant Deutsche Bank $205 million in a settlement to resolve foreign exchange market manipulation violations, New York’s top banking regulator announced Wednesday. Continue reading “Article: Deutsche Bank fined $205 mn in US for forex manipulation”

06/20/201803/15/2021

Article: Deutsche Bank fined $205 million for currency manipulation

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Deutsche Bank fined $205 million for currency manipulation

APNews, 20 June 2018

New York regulators are slapping a $205 million fine on Deutsche Bank, following allegations that traders at Deutsche manipulated the foreign exchange market for years.

Deutsche Bank is the latest Wall Street firm to face penalties for manipulating the $5.3 trillion currency market. Banks such as Barclays, Citigroup and several others have paid hundreds of millions of dollars in fines since the scandal broke several years ago. Continue reading “Article: Deutsche Bank fined $205 million for currency manipulation”

06/20/201803/18/2021

Article: Deutsche Bank fined $205m in the US for foreign exchange manipulation

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Deutsche Bank fined $205m in the US for foreign exchange manipulation

AGENCY STAFF, 20 June 2018

New York — US officials fined embattled German banking giant Deutsche Bank $205m in a settlement to resolve foreign exchange market manipulation violations, New York’s top banking regulator announced on Wednesday. Deutsche Bank’s violations included improperly co-ordinating trading activity with other financial institutions to boost the bank’s own profits, the New York state department of financial services (DFS) said. Continue reading “Article: Deutsche Bank fined $205m in the US for foreign exchange manipulation”

02/02/201803/18/2021

Article: Deutsche Bank Ordered to Pay $70 Million for Manipulation of USD Swap Rates

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Deutsche Bank Ordered to Pay $70 Million for Manipulation of USD Swap Rates

Finance Magnates Staff, 02 February 2018

The Commodity Futures Trading Commission (CFTC) issued an order directed at Deutsche Bank Securities Inc. (DBSI), to pay a $70 million civil monetary penalty over charges of attempted manipulation of the ISDAFIX benchmark, between 2007 and 2012.

The US Dollar International Swaps and Derivatives Association Fix is a global benchmark, used in the settlement of various interest rate products, including cash settlement of options on interest rate swaps. The allegations indicate that Deutsche Bank and some of its traders intentionally attempted to manipulate the benchmark, in an effort to benefit the bank’s positions. The specific USD ISDAFIX rates and spreads that the bank attempted to alter are the ones issued at 11:00 a.m. Eastern Time each day, and act as a mid-market rate to accommodate settlements across various financial markets. Continue reading “Article: Deutsche Bank Ordered to Pay $70 Million for Manipulation of USD Swap Rates”

01/29/201803/15/2021

Article: CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets

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CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets

CFTC Regulations, 29 January 2018

The Commodity Futures Trading Commission (CFTC) today issued an Order filing and settling charges against Deutsche Bank AG (DB AG) and Deutsche Bank Securities Inc. (DBSI) (collectively, DB), requiring DB to pay a $30 million civil monetary penalty and to undertake remedial relief. The Order finds that from at least February 2008 and continuing through at least September 2014, DB AG, by and through certain precious metals traders (Traders), engaged in a scheme to manipulate the price of precious metals futures contracts by utilizing a variety of manual spoofing techniques with respect to precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX), and by trading in a manner to trigger customer stop-loss orders. Continue reading “Article: CFTC Orders Deutsche Bank to Pay $30 Million Penalty for Manipulation, Attempted Manipulation, and Spoofing In the Precious Metals Futures Markets”

01/29/201803/15/2021

Article: Deutsche Bank hit with spoofing fine by US Justice Department

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Deutsche Bank hit with spoofing fine by US Justice Department

Deutsche Welle, 29 January 2018

US authorities have fined Deutsche Bank and two other European finance institutions for manipulating markets. Germany warned its best-known bank not to overdo bonuses — it’d be bad for its already soured image. Continue reading “Article: Deutsche Bank hit with spoofing fine by US Justice Department”

01/27/201803/17/2021

Article: U.S. CFTC to fine UBS, Deutsche Bank, HSBC for spoofing, manipulation: sources

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U.S. CFTC to fine UBS, Deutsche Bank, HSBC for spoofing, manipulation: sources

Reuters, 27 January 2018

The U.S. derivatives regulator is set to announce it has fined European lenders UBS, HSBC and Deutsche Bank millions of dollars each for so-called “spoofing” and manipulation in the U.S. futures market, three people with direct knowledge of the matter told Reuters.

The enforcement action by the Commodity Futures Trading Commission (CFTC) is the result of a multi-agency investigation that also involves the Department of Justice (DoJ) and the Federal Bureau of Investigation (FBI) – the first of its kind for the CFTC, the people said.

The fines for UBS and Deutsche Bank will be upward of ten million, while the fine for HSBC will be slightly less than that, the people said, without providing exact figures. Continue reading “Article: U.S. CFTC to fine UBS, Deutsche Bank, HSBC for spoofing, manipulation: sources”

01/02/201803/18/2021

Article: Deutsche Bank Securities Fined $70 Million in Manipulation Case

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Deutsche Bank Securities Fined $70 Million in Manipulation Case

TOM BEMIS, 02 January 2018

Deutsche Bank Securities Inc., a unit of Deutsche Bank (DB) – Get Report , was fined $70 million as part of a settlement of charges by the Commodity Futures Trading Commission that it attempted to manipulate a key foreign exchange benchmark.

The CFTC found that DBSI made false reports and sought to manipulate the U.S. Dollar International Swaps and Derivatives Association Fix, used as a daily reference in a wide variety of interest-rate products.

The manipulations between 2007 and 2012 sought to benefit DBSI’s derivative positions, the CFTC said in a statement. Continue reading “Article: Deutsche Bank Securities Fined $70 Million in Manipulation Case”

10/01/201603/18/2021

Article: Deutsche Bank Charged By Italy For Market Manipulation, Creating False Accounts | Zero Hedge

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Deutsche Bank Charged By Italy For Market Manipulation, Creating False Accounts | Zero Hedge

Tyler Durden, 01 October 2016

For Deutsche Bank, when it rains, it pours, even when everyone tries to come to its rescue.

One day after its stock soared from all time lows, following what so far appears to have been a fabricated report sourced by AFP which relied on Twitter as a source that the DOJ would reduce its RMBS settlement amount with Deutsche Bank from $14 billion to below $6 billion (and which neither the DOJ nor Deutsche Bank have confirmed for obvious reasons), moments ago Bloomberg reported that six current and former managers of Deutsche Bank, including Michele Faissola, Michele Foresti and Ivor Dunbar, were charged in Milan for colluding to falsify the accounts of Italy’s third-biggest bank, Monte Paschi (which itself is so insolvent it is currently scrambling to finalize a private sector bailout) and manipulate the market. Two former executives at Nomura Holdings Inc. and five at Banca Monte dei Paschi di Siena were also charged. Continue reading “Article: Deutsche Bank Charged By Italy For Market Manipulation, Creating False Accounts | Zero Hedge”

08/22/201605/13/2021

Article: Deutsche Bank’s $10-Billion Scandal

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Deutsche Bank’s $10-Billion Scandal

Ed Caesar, 22 August 2016

Almost every weekday between the fall of 2011 and early 2015, a Russian broker named Igor Volkov called the equities desk of Deutsche Bank’s Moscow headquarters. Volkov would speak to a sales trader—often, a young woman named Dina Maksutova—and ask her to place two trades simultaneously. In one, he would use Russian rubles to buy a blue-chip Russian stock, such as Lukoil, for a Russian company that he represented. Usually, the order was for about ten million dollars’ worth of the stock. In the second trade, Volkov—acting on behalf of a different company, which typically was registered in an offshore territory, such as the British Virgin Islands—would sell the same Russian stock, in the same quantity, in London, in exchange for dollars, pounds, or euros. Both the Russian company and the offshore company had the same owner. Deutsche Bank was helping the client to buy and sell to himself. Continue reading “Article: Deutsche Bank’s $10-Billion Scandal”

06/02/201603/18/2021

Article: The Deutsche Bank gold manipulation scandal

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The Deutsche Bank gold manipulation scandal

Leonard Melmano, 02 June 2016

Sophisticated British criminals exploited vulnerabilities in Australia’s search engine and cryptocurrency infrastructure to dupe small investors, lured by the promise of high-yield funds badged by some of the finance world’s most trusted brands.

The complex scheme involved stolen identities and fraudulent prospectuses that claimed to represent high-yield investment funds run by global managers Citibank, Nomura, and IFM Investors. It has ensnared millions from unsuspecting victims who sought better returns as interest rates collapsed during the COVID-19 crisis. Continue reading “Article: The Deutsche Bank gold manipulation scandal”

05/26/201603/18/2021

Article: Flash Crashes, Algo Manipulation & Demystifying Market Abuse Regulation

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Flash Crashes, Algo Manipulation & Demystifying Market Abuse Regulation

Roger Aitken, 26 May 2016

It’s conjecture as to when the next flash crash might occur. But with the EU Market Abuse Regulation (MAR) coming into force on 3 July 2016, investment firms and operators of trading venues are heading for yet another regulatory change. As if there were not enough regulations and red tape confronting firms from a slew of edicts from Brussels and elsewhere in other jurisdictions.

One could reel off regulatory acronyms such as MiFIR, REMIT to counter market abuse in the energy markets and MAD to name a few. This time though it is with a focus of manipulation of algorithms being labelled as ‘market abuse’.

Driving the latest regulation on top of the welter of others is a need to establish a more uniform and stronger framework in order to preserve market integrity, to avoid potential regulatory arbitrage as well as to ensure accountability in the event of attempted manipulation. Add in providing more legal certainty and – in the view of the legislators – less regulatory complexity for market participants and compliance officers have their hands full. Continue reading “Article: Flash Crashes, Algo Manipulation & Demystifying Market Abuse Regulation”

04/26/201603/18/2021

Article: DEUTSCHE BANK ADMITS BIG BANKS RIGGED GOLD AND SILVER MARKETS

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DEUTSCHE BANK ADMITS BIG BANKS RIGGED GOLD AND SILVER MARKETS

Gog Magog War, 26 April 2016

Recently, a European mega-bank, Deutsche Bank, admitted that it cooperated with other global mega banks to manipulate the gold and silver markets (first link). This story deserves far more coverage and analysis than it has been given in the establishment media. As one reads the links, it is quite evident that the mega-banks rigged the gold and silver markets to suppress the prices of both metals. However, in a conspiracy to manipulate the prices either up or down in the short term, the banking insiders could reap huge illegal profits via such insider trading actions. Continue reading “Article: DEUTSCHE BANK ADMITS BIG BANKS RIGGED GOLD AND SILVER MARKETS”

04/23/201503/18/2021

Article: Deutsche Bank Fined $2.5 bln for Interest Rate Benchmarks Manipulation

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Deutsche Bank Fined $2.5 bln for Interest Rate Benchmarks Manipulation

Victor Golovtchenko, 23 April 2015

Superintendent of Financial Services Benjamin M. Lawsky, announced today that Deutsche Bank will part with $2.5 billion to settle litigation costs related to manipulation of various interest rate benchmarks.

This is the biggest LIBOR investigations related fine to date, and surpasses Swiss bank’s Credit Suisse record. Besides installing an independent monitor for New York Banking Law violations, the largest German investment bank will also have to terminate and ban certain employees. Continue reading “Article: Deutsche Bank Fined $2.5 bln for Interest Rate Benchmarks Manipulation”