Investors in Deutsche Bank can sue in the US on Epstein’s ties

Investors in Deutsche Bank can sue in the US on Epstein’s ties

Investors in Deutsche Bank can sue in the US on Epstein’s ties
Advertisement
  • Shareholders can sue Deutsche Bank AG (DBKGn.DE) for allegedly doing business with risky, ultra-rich clients like the offender Jeffrey Epstein and Russian oligarchs.
  • Judge Jed Rakoff in Manhattan said shareholders may try to prove that the German bank was aware its know-your-customer and anti-money laundering controls were ineffective.

A U.S. judge on Monday said investors can sue Deutsche Bank AG (DBKGn.DE), asserting it concealed deficiencies in inside controls while working with hazardous, super-rich clients like the lender Jeffrey Epstein, Russian oligarchs, and individuals connected to psychological oppression.

Advertisement

U.S. Region Judge Jed Rakoff in Manhattan said investors might attempt to demonstrate in their proposed class activity that the German bank’s know-your-client and hostile to illegal tax avoidance controls were ineffectual, and that its portion cost fell as reality became known.

Read more: Russia offers redesigned McDonald’s restaurants with a catchy name

Rakoff said investors may likewise seek after claims against the bank’s Chief Executive Christian Sewing and his ancestor John Cryan.

The adjudicator excused claims against Deutsche Bank’s CFO and his ancestor.

Deutsche Bank didn’t promptly answer demands for input. Attorneys for the investors didn’t quickly answer comparative solicitations.

The claim covers financial backers in Deutsche Bank protections from March 14, 2017 to May 12, 2020.

Advertisement

The case is Karimi v Deutsche Bank AG et al, U.S. Area Court, Southern District of New York, No. 22-02854.

Advertisement
Advertisement
Read More News On

Catch all the Business News, Breaking News Event and Latest News Updates on The BOL News


Download The BOL News App to get the Daily News Update & Follow us on Google News.


End of Article
Advertisement
In The Spotlight Popular from Pakistan Entertainment
Advertisement

Next Story