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Prosecutors drop money-laundering probe against Deutsche Bank managers

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

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Deutsche Bank

Reuters  |  Berlin 

Photo: Reuters
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 | Photo: Reuters

German prosecutors said on Tuesday they were dropping a money-laundering investigation against managers at Deutsche Bank, over its relations with Danske Bank's Estonian subsidiary, citing a lack of evidence.

The economic crimes unit at the Frankfurt Prosecutor's Office also fined 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, which broke off its relationship with Danske in 2015, has consistently denied wrong doing.

"With the end to proceedings, it is clear that there were no criminal lapses on the part of or its staff," board member Stefan Simon said in a statement.

The fine relates to delays in reporting suspicious transactions between 2010 and 2015 in connection with the so-called "Azerbaijani Laundromat", which allegedly sent money to Europe to influence politicians, prosecutors said.

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First Published: Tue, October 13 2020. 20:30 IST
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