Deutsche Bank To Pay Almost $125 Million To Settle US Bribery And Precious Metals Manipulation Charges

“…to avoid U.S. prosecution on charges it engaged in foreign bribery schemes and manipulated precious metals markets…”

(by Half Dollar) Deutsche Bank will be paying to settle current charges.

From Reuters:

NEW YORK (Reuters) – Deutsche Bank AG will pay nearly $125 million to avoid U.S. prosecution on charges it engaged in foreign bribery schemes and manipulated precious metals markets, the latest blow for the bank as it tries to rebound from a series of scandals.

That latest blow took place last week.

Specifically, with regards to the precious metals, from the same Reuters article:

In the metals case, prosecutors accused Deutsche Bank traders of placing fraudulent trades, known as spoofing, to induce other traders to buy and sell futures contracts at prices they otherwise would not have.

Spoofing is a common charge with precious metals market manipulation.

Developing…