GERMANY: Munich prosecutors charge Deutsche Bank's co-Chief Executive Juergen Fitschen and file charges against Deutsche Bank executives

Record ID: 565591

  • Title: GERMANY: Munich prosecutors charge Deutsche Bank's co-Chief Executive Juergen Fitschen and file charges against Deutsche Bank executives
  • Date: 23rd September 2014
  • Summary: MUNICH, GERMANY (SEPTEMBER 23, 2014) (REUTERS) EXTERIOR OFFICE OF MUNICH PROSECUTORS INTERIOR MUNICH PROSECUTORS SPOKESMAN THOMAS STEINKRAUS-KOCH SIGN READING PROSECUTORS MUNICH (SOUNDBITE) (German) MUNICH PROSECUTORS SPOKESMAN THOMAS STEINKRAUS-KOCH, SAYING: "During the civil court case a compensation of two billion euro was claimed by the heirs of Leo Kirch. The persons on the part of Deutsche Bank, this being based on an interview with Dr Breuer in 2002, might have tried to topple that claim by give misleading evidence." ARMORIAL BEARINGS (SOUNDBITE) (German) MUNICH PROSECUTORS SPOKESMAN THOMAS STEINKRAUS-KOCH, SAYING: "Five of those five charged are charged with attempted collusion and two of them who were heard as witnesses are also charged with unsworn false statement." PRESS RELEASE (SOUNDBITE) (German) MUNICH PROSECUTORS SPOKESMAN THOMAS STEINKRAUS-KOCH, SAYING: "We are accusing Mr Fitschen of not having told the whole truth during a hearing at the higher regional court Munich. Although he did not support the incorrect information given by the other persons he did not tell the whole truth and did not correct the Deutsche Bank's false party's submission." ARMORIAL BEARINGS
  • Embargoed: 8th October 2014 13:00
  • Keywords:
  • Location: Germany
  • Country: Germany
  • Topics: Crime,Finance,Politics
  • Reuters ID: LVA1RNYS594I9TLRJFVSZURZC0C6
  • Story Text: German prosecutors have filed charges against Deutsche Bank co-Chief Executive Juergen Fitschen and several former bank executives in connection with the Kirch media group's long-running bankruptcy case.
    Munich prosecutors have been investigating whether Fitschen and a number of former executives gave misleading evidence during a civil court case brought by the heirs of Leo Kirch, the deceased media magnate who had sued Deutsche Bank.
    "We are accusing Mr Fitschen of not having told the whole truth during a hearing at the higher regional court Munich," the spokesman of the Munich prosecutors, Thomas Steinkraus-Koch, told Reuters. "Although he did not support the incorrect information given by the other persons he did not tell the whole truth and did not correct the Deutsche Bank's false party's submission."
    A spokeswoman for the Munich court said the court had received the charges on Tuesday and will now decide whether the case is admissible. That process could take several months.
    Besides Fitschen, prosecutors have also filed charges against former Deutsche Bank chief executives Josef Ackermann and Rolf Breuer, as well as former chairman Clemens Boersig in connection with the case.
    The men have all denied any wrongdoing.
    Fitschen left a Berlin conference on Tuesday without commenting and Deutsche Bank said it was sticking with its policy of not commenting on ongoing litigation.
    "We refer, instead, to our previous statements underlining our belief that the allegation against Juergen Fitschen will prove unfounded," it said in an written statement.
    Fitschen and Anshu Jain, the former head of Deutsche's investment bank, took over as co-CEOs in 2012.
    News that prosecutors filed charges against Fitschen comes as Germany's largest bank struggles with a series of legal problems and works to meet strict new capital requirements from regulators.
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