The WAPO reports that every honest persons least favorite bank Deutsche Bank hired the children of powerful foreign officials into London positions to secure business. The increasingly desperate bank was investigated by the SEC for these violations.
The SEC order outlines numerous alleged violations by the bank of the 1977 Foreign Corrupt Practices Act, saying the bank provided jobs to relatives of foreign government officials in an attempt to influence the officials to steer business to the bank. Deutsche Bank agreed to settle the SEC’s allegations late last week by paying $16 million, though it did not admit wrongdoing.
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While cooperating with SEC on the nepotism for business scandal it has continued to refuse to cooperate in turning over Trump and progeny tax returns. In fact the even refused to answer whether or not they had them to the judge.
Deutsche Bank’s attorney repeatedly refused to answer, citing “contractual obligations.” It now has until Tuesday at 4 p.m. to submit a letter to the court answering the question.
It’s unclear whether they are worried about retaliation from Trump — who owes them for “about $364 million” in loans made when no one else would touch them — or they are hesitant to admit they lent him that money without gather the necessary documentation. Or maybe they are just assuming that Trump will quash any retribution from the SEC regarding his taxes and they face no real penalties.