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Federal prosecutors are expected to report that Deutsche Bank violated anti-corruption laws as it tried to win business in countries like China, according to a person familiar with the matter.
Deutsche Bank is expected to agree to pay more than $ 100 million to settle the charges and strike a so-called deferred prosecution agreement in Brooklyn federal court on Friday, the person said, who spoke out under cover of anonymity because the agreement had not been announced.
Such a deal would be the last black eye for Deutsche Bank, which has been sanctioned several times in recent years for its involvement in money laundering and for violating international sanctions. In 2019, the German bank agreed to pay the Securities and Exchange Commission $ 16 million to resolve allegations that it used corrupt means to gain business in China and Russia.
The New York Times reported in 2019 that Deutsche Bank had for years lavished costly gifts on Chinese leaders and paid millions of dollars to politically connected consultants as the bank tried to market itself and strike lucrative deals in China.
A deal between Deutsche Bank and the Justice Department would resolve a long-standing investigation just days before President Trump left. For the past two decades, the German bank has been Mr. Trump’s main lender; he currently owes Deutsche Bank more than $ 300 million.
This is a developing story. Check back for updates.
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