Deutsche Bank has agreed to pay more than $130 million to resolve charges that it paid bribes to third parties to secure business deals in Asia and the Middle East, in addition to a separate commodities fraud “spoofing” case.
The coordinated resolution between the Department of Justice (DOJ), Securities and Exchange Commission (SEC), and the Commodity Futures Trading Commission (CFTC) will have Deutsche Bank pay approximately $80 million in penalties to the DOJ to settle violations of the Foreign Corrupt Practices Act (FCPA) and $43.3 million in disgorgement and prejudgment interest to the SEC, according to a press release Friday. In addition, the bank will pay $7.5 million to the CFTC to settle the commodities fraud charges, which is credited to a $30 million settlement reached in 2018 with the CFTC to settle the same conduct.
