Episode 183 -- Review of the Deutsche Bank FCPA and Spoofing Fraud Case
Compliance into the Weeds: Deutsche Bank Fined Over Epstein Accounts
Daily Compliance News: March 3, 2020, the Devil’s Advocate edition
The Wall Street Journal has reported on a government investigation into DWS, an entity that is majority-owned by Deutschebank, in connection with potential misrepresentations concerning the ESG investing strategy disclosed by...more
After an eight-day trial, a federal jury convicted four California residents for their scheme to submit fraudulent loan applications seeking millions of dollars in the Paycheck Protection Program (PPP) and Economic Injury...more
Securities Fraud on the Dark Web Using Bitcoin - For the first time, the Securities and Exchange Commission (SEC) has brought an action against an individual, James Roland Jones, in connection with activities on the dark...more
Deutsche Bank, the infamous German bank connected to former President Trump, settled FCPA and fraud cases with the Justice Department and the SEC, and agreed to pay a total of $130 million. In this Episode, Michael Review...more
Deutsche Bank, the infamous German bank connected to President Trump, settled FCPA and fraud cases with the Justice Department and the SEC, and agreed to pay a total of $130 million....more
On January 8, 2021, US authorities announced that they reached an agreement with Deutsche Bank Aktiengesellschaft (Deutsche Bank) to resolve the government’s investigation into violations of the Foreign Corrupt Practices Act...more
On January 8, 2021, the SEC issued a cease-and-desist order, Release No., 90875 (available here), formally resolving proceedings against Deutsche Bank AG. Deutsche Bank agreed to pay over $125 million as part of a global...more
Deutsche Bank to Pay Over $130 Million to Resolve Foreign Corrupt Practices Act and Fraud Allegations - Deutsche Bank Aktiengesellschaft (Deutsche Bank) has agreed to pay more than $130 million to resolve the government’s...more
In recent months, the U.S. Department of Justice (DOJ) and Securities & Exchange Commission (SEC) have announced several notable penalties for violations of the U.S. Foreign Corrupt Practices Act (FCPA). The FCPA prohibits...more
There is a reason Donald Trump and his family use Deutsche Bank. It is one of the most corrupt banking institutions around. You have to admit, after Wells Fargo, that is really saying something. Last week, Deutsche Bank...more
U.S. Developments - DOJ Seizes More Than $1 Billion in Cryptocurrency from Silk Road Hacker - On November 5, the U.S. Department of Justice (the DOJ) announced that it seized more than 69,000 Bitcoin, now worth more than $1...more
New U.S. unemployment claims rose last week according to data released on Thursday, the latest sign that America’s recovery from the pandemic-induced recession is slowing—a “particularly worrisome” trend as cold-state...more
In 2015, our colleagues in the white-collar criminal defense bar braced for the impact of a memorandum penned by then Deputy Attorney General Sally Yates. The Yates Memo encouraged both federal prosecutors and civil...more
On Monday, the White House announced its plan to extend a “freeze on ‘green cards’ for new immigrants” and to “suspend H-1B, L-1, J and other temporary work visas for skilled workers, managers and au pairs through the end of...more
This issue of Skadden’s semiannual Cross-Border Investigations Update takes a close look at recent cases, regulatory activity and other key developments, including a review of the first year of GDPR enforcement, analysis of...more
If there ever was a poster-child for reputational damage for a financial institution, Deutsche Bank would be the first and only candidate. Talk about a bank that is in trouble and continues to fall under government scrutiny....more
A recent report showing slowing US manufacturing activity and a sliding 10-year Treasury note yield is only making Chair Powell’s balancing act that much tougher....more
The big takeaway from Day 1 of Fed Chair Powell’s Congressional testimony is that a July rate cut is still definitely on the table, despite last week’s strong US jobs numbers. As the Times puts it, “That the Fed is...more
Lots more details on what turned out to be something of a bloodbath for Deutsche Bank employees around the world, with the bank starting to make good yesterday on its plans to cut nearly 18,000 employees worldwide – NYTimes...more
OPEC nations met yesterday and agreed to continue their production cutting goals into 2020 in an effort to, according to the experts, “prop[] up prices while demand for oil is weakening”....more
The US’s ongoing trade war with China—which just isn’t going away any time soon—has prompted the White House to propose a new “$16 billion bailout for farmers hurt by Beijing’s tariffs.” At the same time, leaders from both...more
Deutsche Bank on Wednesday confirmed the basics of a recent German newspaper report that revealed that the bank “had used faulty software to screen customer transactions for suspicious activity” while claiming that “no...more
In a recent decision that could have critical implications for corporate internal investigations conducted pursuant to a government agency’s request, the Southern District of New York expressed concern with the government’s...more
Elon Musk and the SEC have reached an agreement to revise their earlier agreement to settle the latest round of issues caused by Musk’s Twitter habit. Under its terms, a Tesla securities attorney must now “preapprove any of...more
Jobs report Friday again. Which, after February’s dismal numbers, is carrying extra importance today. We’ll be keeping an eye on US manufacturing, among other things. Here’s what to watch....more