Published Friday, January 29, 2016 at 14h51
According to information disclosed today by the Le Monde Deutsche Bank is accused by many of its customers have used deceptive software to handle foreign exchange transactions in its favor.
A class action complaint was filed on Dec. 21, 2015 before a New York court. The plaintiffs – investment and pension funds, multinationals but also central banks in Europe, Africa and Asia -soupçonnent the largest German bank to have “ inserted a slightly different algorithm for the passage of a order execution, to reject operations are unfavorable to him “.
The Barclays was accused of similar practices and was sentenced in November to 150 million fine, the paper recalls. Deutsche Bank has so far rejected these accusations. But this new deal comes a little more still affect his reputation, already suffering. The bank ended the year 2015 with a record loss of 6.8 billion euros and its turnover fell by 15% last quarter. Bonuses leaders were frozen and shareholders have already been warned that their dividends would also be frozen for two years.
Concepcion Alvarez
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