In the scandal of the Malaysian state Fund 1MDB U.S. authorities to determine, according to a report in the newspaper, also against the Deutsche Bank. To examine whether the financial group-had violated money-laundering laws.
In the scandal of the Malaysian state Fund 1MDB, a newspaper is reporting that the Deutsche Bank in the crosshairs of the U.S. Department of justice. The Ministry is looking into whether the Bank violated through their work for 1Malaysia Development Berhad (1MDB) provisions against corruption and money laundering, reported the Wall Street Journal (WSJ) on Wednesday, citing familiar with the matter people.
From the 2009 funds, with the actually, the economy should be stimulated, were gone, according to the findings of the U.S. Department of justice in the years up to 2014, at least 4.5 billion dollars. With the funding, government officials should be bribed, black coffers of the then Prime Minister, Najib Razak, and jewelry, paintings and real estate for hundreds of millions of dollars purchased have been financed.
Because of his involvement in the 1MDB scandal now before the court: Malaysia’s Ex-Prime Minister Najib Razak
Deutsche Bank has helped according to the report, the Fund in 2014, 1.2 billion dollars in rescue loans, to collect, as long been rumors about the finances and the managers of 1MDB made the rounds. The focus of the investigation, a Banker, Tan Boon-Kee, who had come from Goldman Sachs to Deutsche Bank’s standing. The US investment Bank, is the Institute, which had previously determined the headlines in the scandal. Goldman had accompanied three bond issues of 1MDB in a total volume of $ 6.5 billion and $ 600 million in fees collected. Tan have been working together with the US Institute with a Banker who has known in the case of guilty and with the Ministry cooperates.
Tan was also at Deutsche Bank in transactions with 1MDB involved, writes WSJ. You have to leave the Bank in the past year, as discussions were with the Malaysian financier Jho Low noised, which is regarded as a Central figure in the scandal. The German Bank will not comment on the reasons for your departure. She sees herself as a victim: As from documents of the Ministry of justice indicated, “has shown 1MDB facts in connection with his transactions with the Bank to employees of the Deutsche Bank materially false, and concealed”. The meet also with our own investigations of the Bank. In a report of the Ministry, breaks down the mesh of 1MDB, exactly, is Deutsche Bank, according to WSJ 167 times, Goldman Sachs only 56 times.
Tan has been working since April for the Asian insurer FWD Group. A spokesman for the company said she would not comment on the report.