Deutsche Bank’s Legal Woes Deepen as Overhaul Hits Profit
This article is for subscribers only.
Deutsche Bank AG’s announcement yesterday that earnings will suffer this quarter added to a cacophony of negative news over the past two weeks that’s increasing pressure on the company’s new leadership.
Two days ago, police raided Deutsche Bank’s Frankfurt headquarters, arresting five employees, in a tax probe involving the sale of carbon-emission certificates that includes co-Chief Executive Officer Juergen Fitschen and Chief Financial Officer Stefan Krause, who signed tax returns. Today, the bank was found partly liable by a Munich court for the collapse of a German media group.