Deutsche Bank slapped with €15m fine in money laundering case

Deutsche Bank has settled a case with Frankfurt prosecutors that involved a raid on its offices and resulted in a huge hit on earnings and stock value over suspected money laundering. German authorities raided Deutsche Bank's offices, including its Frankfurt base, in connection with the probe in 2018. When footage of the raid, which involved about 170 authorities, was released, the bank's shares plummeted to an all-time low. Chief executive officer Christian Sewing would later say that the raids also saw the exodus of many clients who were spooked by the actions, which led to Q4 losses. ...