Exclusive: Confidential @DeutscheBank documents show a brazen campaign to win business in China via what look like corrupt means. Top execs were directly involved.
The punishment: A wrist-slap from the SEC. with @PekingMike @jotted nytimes.com/2019/10/14/bus…
The punishment: A wrist-slap from the SEC. with @PekingMike @jotted nytimes.com/2019/10/14/bus…
@DeutscheBank @PekingMike @jotted The bank spent millions on extravagant gifts for top government officials, on well-connected consultants to arrange meetings for senior execs, and on hiring unqualified relatives of Chinese leaders.
It worked: @DeutscheBank went from being irrelevant to a top player in China.
It worked: @DeutscheBank went from being irrelevant to a top player in China.
@DeutscheBank @PekingMike @jotted The SEC spent years investigating. In August, it imposed a tiny $16 million penalty -- which didn't even cover all the wrongdoing that Deutsche's own internal reviews found.
This is the clearest example I've seen in the @realDonaldTrump era of his favorite bank getting off easy.
This is the clearest example I've seen in the @realDonaldTrump era of his favorite bank getting off easy.
@DeutscheBank @PekingMike @jotted @realDonaldTrump Bank employees repeatedly warned executives -- including the CEO -- that misconduct was taking place. Yet Deutsche was so eager to get bigger that it brushed off the concerns.
This *exact same mentality* led DB to keep lending to @realDonaldTrump after his repeated defaults.
This *exact same mentality* led DB to keep lending to @realDonaldTrump after his repeated defaults.
@DeutscheBank @PekingMike @jotted @realDonaldTrump We did this story in collaboration with the great German newspaper @SZ. @christophgiesen @n_richter @SchreiberDohms Here's their version: sueddeutsche.de/wirtschaft/deu…
@DeutscheBank @PekingMike @jotted @realDonaldTrump @SZ @christophgiesen @n_richter @SchreiberDohms I love the shorthand that @nytimes homepage is using to describe @DeutscheBank... #NotoriousDB nytimes.com/2019/10/14/bus…
