Deutsche Bank’s 1MDB probe abandoned by US Department of Justice – fr

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Deutsche Bank’s 1MDB probe abandoned by US Department of Justice – fr


The US Department of Justice has dropped an investigation into Deutsche Bank AG’s role in the 1MDB scandal, removing a possible legal headache as Malaysia ramps up its compensation claims.
The DOJ sent a letter to let the German bank know the investigation was closed, people familiar with the matter said, without specifying the date of the correspondence. The people asked not to be identified when discussing private information.

Representatives of Deutsche Bank declined to comment. A spokesperson for the Department of Justice declined to comment.

The DOJ decision brings relief as Deutsche Bank was named as a defendant on Monday in a lawsuit filed by 1MDB demanding $ 1.1 billion in payments from the German lender, Bloomberg reported earlier. Deutsche Bank said it had not received any documents on 1MDB and was not aware of any basis for a legitimate claim.

The DOJ opened an investigation in 2019 to determine whether Deutsche Bank’s role in helping 1MDB raise $ 1.2 billion five years earlier could have violated foreign bribery or money laundering laws, Bloomberg reported. At the time the investigation was initiated, Deutsche Bank reported previously filed asset confiscation documents by the Justice Department, indicating that 1MDB misled Deutsche Bank during transactions.

– With the help of Tom Schoenberg

(Updates with the comment from the Department of Justice in the third paragraph)

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