DEUTSCHE BANK ENABLED ‘MASSIVE’ US PONZI SCHEME, LAWSUIT SAYS

On 23 July, Yahoo Finance reported that Deutsche Bank AG is accused of turning a blind eye to a years-long Ponzi scheme that involved fraudulent investments in Florida.  It is being sued by liquidators of 2 now-bankrupt Cayman Islands investment funds sued the bank in New York and Florida.  It is alleged that Deutsche Bank maintained accounts for entities involved in the scheme despite repeated red flags and SEC sanctions against them, and it failed to enforce its own rules to prevent money laundering. 

https://finance.yahoo.com/news/deutsche-bank-enabled-massive-u-115237119.html

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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