German prosecutors said on Tuesday they were dropping a money-laundering investigation against managers at Deutsche Bank DBKGn.DE, over its relations with Danske Bank’s DANSKE.CO Estonian subsidiary, citing a lack of evidence.
The economic crimes unit at the Frankfurt Prosecutor’s Office also fined Deutsche Bank 13.5 million euros ($15.9 million) for being slow to report suspected money laundering in more than 600 cases.
The case related to a whistleblower’s claims that Danske had handled 200 billion euros in suspicious payments from Russia and other ex-Soviet republics between 2007 and 2015 – the bulk of which were processed by Deutsche Bank.
Deutsche Bank, which broke off its relationship with Danske in 2015, has consistently denied wrongdoing.
The original full article can be found at reuters.com
(Photo: HAYOUNG JEON/SHUTTERSTOCK)