The bank conducted its probe between 2014 and 2016 which led to the departure of six employees/Bloomberg
by BloombergGerman prosecutors are investigating two former Deutsche Bank employees for allegedly paying $1.1 million to secure the wealth management business of a senior Saudi royal.
The money transfers were arranged in 2011 and 2012, along with other perks, including an internship and a seminar at a Swiss ski resort, according to the results of an international probe.
The bank conducted its probe between 2014 and 2016 which led to the departure of six employees and 12 staff having their bonuses suspended.
In a statement, Deutsche Bank said this was an action by a small number of individuals who acted in breach of the bank’s policies.
“We caught it, reported it ourselves to regulators and the affected clients, dealt appropriately with the individuals, and made improvements to avoid something similar happening again,” said Deutsche Bank.
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