Italian Investigations

Deutsche Bank, an International Criminal Organization?

  • Why it matters

    Why it matters

    Six former Deutsche Bank employees are under investigation for market manipulation in Italy. Prosecutors there now allege they were part of an international criminal organization, implying harsher punishment.

  • Facts


    • Former employees of Deutsche Bank went on trial in Italy in December under charges of market manipulation and other related crimes.
    • The bankers are accused of colluding to spruce up the books of ailing Italian bank Monte dei Paschi, using a complex web of derivatives trades.
    • Prosecutors now call on the judge to treat them as members of an international criminal organization, which constitutes aggravated circumstances, punishable with up to 9 years of jail time.
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Judges in Italy will have to decide on the degree of criminality at Deutsche Bank. Picture source: DPA

Deutsche Bank’s legal woes seemingly never come to an end. Prosecutors in Italy investigating the cover up of losses at Italian Monte dei Paschi, the world’s oldest bank, allege that bankers at the German lender have been part of an international criminal organization. The charge constitutes aggravating circumstances to the already existing accusations over market manipulation the bank faces in the case.

Deutsche Bank and Nomura holdings, a Japanese financial firm, went on trial in December, accused of being in cahoots with ailing Monte Paschi to spruce up the Italian lender’s balance sheet. Milan prosecutors originally charged 13 former managers of Deutsche Bank, Nomura and Monte Paschi for alleged false accounting and market manipulation.

But the new charges brought forward to the consideration of the three-judge panel would lead to higher penalties if confirmed. Prosecutors presented internal Deutsche Bank documents and emails, seen by news agency Bloomberg, to convince judges of the additional, aggravating circumstances.

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