Thread by @DawsonSField

US DOJ turns up the heat on Deutsche Bank in $220M money laundering case.
Media is just figuring out FBI, DOJ & Frankfurt prosecutors have been working together!
#ButNothingsHappening
business.financialpost.com/pmn/business-p…

Case is exploring Deutsche Bank's role in laundering dirty money from Estonia into the United States.

Case is expected to come to fruition in 2020!

Each cooperation effort leads to new #receipts that allow DOJ & other prosecutors to get from the banks, to the bankers, & eventually to the customers that were laundering the money!

These cases keep cycling from one agency to the next, from NY State banking regulators, to Brits, to DOJ & SEC, each time digging deeper into the evidence.
Deutsche Bank ignored the warning from it's own compliance staff to keep raking in the dirty money!

5 years after they knew the money was dirty, Deutsche Bank warned German authorities in February 2019 about more than 1 million shady transactions!
The 5 years of not telling law enforcement is central to the investigation & culpability of the bank & the bankers!

Deutsche Bank, like the others has one route to save themselves. Blame it all on former (or soon to be former) executives and hand over all of the evidence against them!
Good thing these cases operate under the Rosenstein Memo instead of the Yates Memo on cooperation agreements