For Deutsche Bank, as for most of other large international banks, financial scandals are certainly unusual.
Less than a month ago, we reported on another scandal about a previous deal of this German institution: The SEC, the U.S. supervisory authority, fined the bank $55 million because it had presented a false position in its financial statements. The news caused uproar because, after the sentencing, the former SEC official who investigated the case had refused to collect the reward offered. It was his way of protesting the fact that only the bank would be punished and not the directors responsible for the crime; indeed the latter nurtured cordial relations with the SEC itself.
Other investigations around the world
On that occasion, we also recalled that the German bank had already been sentenced in 2015 to pay a fine of $2.5 billion. The bank was fined for collusion with other banking institutions to manipulate the LIBOR rate, the reference inter-bank interest rate calculated daily on the London market, which serves, among other things, as a basis for granting loans. We also note, if anything else need be added, that the bank is also subject to other investigations in different parts of the world.