UPDATE 15/09/21 …
IT IS IMPORTANT TO ABSTAIN FROM AND THINK INDEPENDENTLY FROM THE UNIFIED GLOBAL MEDIA MOGULS WHO WORK SOLELY TO PROMOTE THEIR IDEAS FOR THEIR PERSONAL MOTIVES. TODAY WARS FOR POWER AND WEALTH ARE BEING FOUGHT WITH INVISIBLE ENEMIES TO WEAKEN, DESTABILIZE AND INSTILL FEAR IN HUMANITY WHO ARE THEIR VICTIMS. FROM MULTIPLE DISPERSEMENT OF LETHAL, INVISIBLE, SPEED OF LIGHT MICROWAVE LASERS FROM SPACE TO BIOLOGICAL ATTACKS WORLDWIDE. ALL WARS ARE STARTED DUE TO RENEGADE, IMBALANCED AND ABNORMAL INDIVIDUALS WHO DO NOT KNOW HOW TO APPRECIATE THE GIFT OF LIFE ITSELF BUT RATHER SEEK TO IMPOSE THEIR IDEAS UPON OTHERS THROUGH FORCE AND MANIPULATION WHETHER IT BE WITH GOOD INTENTIONS OR BAD INTENTIONS. THESE INDIVIDUALS SIMPLY NEED TO BE IMMEDIATELY REMOVED FROM SOCIETY AND HOSPITALIZED UNDER REHABILITATION THERAPY WHILE HAVING ALL THEIR ASSETS AND FINANCIAL POWER SEIZED AND PROJECTS NEUTRALIZED SO THEY CANNOT NOT CAUSE FURTHER HARM TO OTHERS DUE TO THEIR UNSTABLE AND PSYCHOPATHIC DANGEROUS TENDENCIES.
DR REINER FUELLMICH SUCCESSFULLY HELD DEUTSCHE BANK ACCOUNTABLE AFTER THE GRAND SCAM MORTGAGE SHAM THAT STOLE HOMES FROM HUNDREDS OF THOUSANDS OF HOMEOWNERS WORLDWIDE THROUGH BAD MORTGAGE LOANS AND RESULTED IN COLLAPSING THE ECONOMY DURING THE 2008 MORTGAGE HOUSING CRISIS. HE LATER SUCCESSFULLY EXPOSED AND SUED VOLKSWAGEN FOR THEIR EMISSIONS SCANDAL.
DR FUELLMICH IS DOCUMENTING A SERIES OF EVENTS WITH MULTIPLE TESTIMONIES THAT ARE VERY WORTHY OF CONSIDERATION IN LIGHT OF WHAT IS GOING ON IN THE WORLD TODAY WITH THE CURRENT PANDEMICS.
DEUTSCHE BANK HELD ACCOUNTABLE FOR THE 2008 HOUSING MORTGAGE SECURITIES SCAM.
FRANKFURT/NEW YORK (Reuters) – Deutsche Bank DBKGn.DEDB.N said on Friday it will pay $1.9 billion to settle claims that it defrauded two U.S. government-controlled companies in the sale of mortgage-backed securities before the 2008 financial crisis.
OTHER LAWSUITS AND SETTLEMENTS
The FHFA’s lawsuit, filed in New York, was one of 18 that the agency filed over false or misleading statements relating to some $200 billion in mortgage-backed securities sold to Fannie and Freddie.
The lawsuit against Deutsche Bank centred on 40 mortgage-backed securities that Fannie Mae and Freddie Mac bought and that Deutsche Bank sponsored or underwrote from September 2005 to June 2007.
Under the settlement, the FHFA said Deutsche Bank will pay $1.63 billion to Freddie Mac and $300 million to Fannie Mae. Deutsche Bank will not admit liability as part of the settlement, documents showed.
The two taxpayer-owned mortgage finance firms have rebounded to profitability as the housing market has recovered.
Fannie Mae and Freddie Mac, which currently back about half of existing U.S. home loans, were seized by the government in 2008 as mortgage losses mounted. They have received $187.5 billion in taxpayer funds to stay afloat, while paying about $185.2 billion in dividends to the government for that support.
The deal, negotiated by the Federal Housing Finance Agency, is the second-largest regulatory settlement over claims banks engaged in fraud in packaging and selling mortgage-backed securities, after a $13 billion deal with JPMorgan Chase & Co JPM.N.
The settlement, equal to 1.4 billion euros, resolves a lawsuit accusing the German bank of misleading Fannie Mae FNMA.OBand Freddie Mac FMCC.OB, America’s biggest providers of housing finance, into buying $14.2 billion in mortgage-backed securities.
Deutsche Bank and the other defendants have suffered a series of disappointments in the litigation, failing to win dismissal of the lawsuits, among other setbacks.
- Reporting by Jonathan Gould in Frankfurt and Nate Raymond in New York; additional reporting by Margaret Chadbourn, Karen Freifeld and Jonathan Stempel; Editing by Harro ten Wolde, Jane Merriman, Jan Paschal and Dan Grebler
Our Standards: The Thomson Reuters Trust Principles.
DR FUELLMICH SUCCESSFULLY HELD VOLKSWAGEN ACCOUNTABLE FOR DISHONEST PRACTICES IN THEIR EMISSIONS SYSTEMS.
BERLIN (AP) — German auto giant Volkswagen agreed Friday to pay 830 million euros ($912 million) in damages to hundreds of thousands of customers whose diesel cars were outfitted with software to manipulate emissions readings.
Who is Deutsche Bank owned by?
Deutsche Bank’s 5 biggest scandals
Espionage, money laundering and interest rate scams. Germany’s biggest lender has a global reputation for scandal – and has paid hefty fines and expensive settlements to make up for its wrongdoings.
Police in Frankfurt raided six offices of the country’s largest moneylender, Deutsche Bank, on Thursday, following allegations of facilitating and failing to report money laundering.
The claims had first surfaced in the “Panama Papers” investigation, published by an international consortium of journalists in 2016.
Prosecutors suspect Deutsche Bank helped its customers “transfer money from criminal activities” to tax havens.
But the German lender isn’t new to criminal investigations, fines and settlements. That’s why it’s share price has slid from almost €90 before the 2007/8 financial crash to €8.25 in trading on Thursday. Here’s a quick look at five of the biggest snafus in recent years to hit Donald Trump’s bank of choice.
1. Laundering Russian money
In 2017, Deutsche Bank was fined a total of $630 million (€553.5 million) by US and UK financial authorities over accusations of having laundered money out of Russia.
According to US and British regulators, Deutsche Bank’s anti-money laundering control mechanisms failed to spot sham trades with a value of up to $10 billion, not knowing who the customers involved in the trades were and where their money came from.
“These flaws allowed a corrupt group of bank traders and offshore entities to improperly and covertly transfer more than $10 billion out of Russia,” the regulators said.
2. Libor interest rate scam
Two years prior, Deutsche Bank had already been fined a record $2.5 billion dollars bv US and British authorities for its role in an interest rate scam between 2003 and 2007.
The bank’s London subsidiary pleaded guilty to counts of criminal wire fraud, after it was accused of fixing interest rates like the London Interbank Offered Rate (Libor), used to price a hefty amount of loans and contracts across the world.
British banking authorities said at least 29 Deutsche Bank employees were involved in the scam, while US regulators ordered the bank to fire seven employees, including directors and vice-presidents.
UK regulator Georgina Philippou said at the time: “This case stands out for the seriousness and duration of the breaches by Deutsche Bank – something reflected in the size of today’s fine.”
Several other lenders faced similar allegations, but smaller punishments.
3. Violation of US economic sanctions
Same year, more money: after the Libor scandal fines, Deutsche Bank agreed to a hefty batch settlement with the US financial authorities. This time, it was for violating US sanctions against a number of countries, including Iran, Syria, Libya and Sudan.
The bank was accused of conducting clearing transactions for its customers, also using “non-transparent methods and practices” to disguise its actions. These transactions, which were carried out between 1999 and 2006, were not allowed under US laws that banned business transactions with countries accused of financing terrorism.
Deutsche Bank employees had devised strategies to get around the sanctions and carry out transactions worth roughly $10.9 billion. The bank agreed to pay $258 million in settlements.
4. Sale of toxic securities leading up to the financial crisis
Deutsche Bank was one of a series of lenders guilty of selling and pooling toxic financial products in the lead-up to the 2007 and 2008 financial crisis.
The bank signed a $7.2 billion settlement with the US Department of Justice in 2017, after being accused of having sold investors bad mortgage-backed securities between 2005 and 2007.
US Attorney General Loretta Lynch said at the time that “Deutsche Bank did not merely mislead investors: it contributed to an international financial crisis.”
5. Spying on its critics
In 2009, after an internal investigation, Deutsche Bank admitted it had hired a detective agency to spyon people who were considered threatening for the bank – including a shareholder, a journalist, and a member of the public.
German prosecutors found no evidence of criminal wrongdoing, and the bank’s top-level executives were deemed not to have been involved in the scandal.
After the results were disclosed, Deutsche Bank dismissed the employees who it thought were involved with the spying, including its head of corporate security for Germany and the global head of investor relations.
29.11.2018
https://www.dw.com/en/deutsche-banks-5-biggest-scandals/a-46510219?maca=en-EMail-sharing
- JPMorgan Chase – $2.87 Trillion. …
- Bank of America – $2.16 Trillion. …
- Wells Fargo & Co. …
- Citigroup – $1.65 Trillion. …
- U.S. Bancorp – $530.50 Billion. …
- Truist Financial Corporation – $488.02 Billion. …
- PNC Financial Services – $457.45 Billion. …
- TD Bank – $388.34 Billion.
