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.
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