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New York (dpa) - The Deutsche Bank has cleared further legal legacies in the USA with a million dollar settlement.
The largest German financial institution pays over $ 125 million (102 million euros) on allegations of bribery in certain foreign transactions and manipulation in trading in precious metal contracts, according to US court documents on Friday.
In return, criminal proceedings by the US judicial authorities will be dropped.
“Even if we cannot comment on the details of the comparisons, we take responsibility for these events that occurred between 2008 and 2017,” Deutsche Bank said in a statement.
The affairs have been thoroughly investigated, and the company has fully cooperated with the Justice Department and the SEC.
The bank has taken significant measures and spent a lot of money to improve its processes.
The allegations of the US authorities are violations of the anti-corruption law "Foreign Corrupt Practices Act", with which the US can pursue allegations of bribery beyond its own national borders.
Specifically, a bribe deal in 2010 is mentioned in the court files, in which business advantages should be obtained in Abu Dhabi through intermediaries.
At Deutsche Bank, the project was called "Project X" internally.
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The second part of the comparison concerns price manipulation by some Deutsche Bank finance professionals in trading precious metal contracts.
Among other things, a practice often referred to as "spoofing" is said to have been used, in which purchase orders are only faked on the market in order to manipulate prices.
A few months ago, the US major JPMorgan Chase was fined $ 920 million by US authorities for similar allegations.