Deutsche Bank clears co-CEO Jain in internal Libor probe: report
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[January 27, 2014]
FRANKFURT (Reuters) — Deutsche Bank <DBKGn.DE>
has concluded co-Chief Executive Anshu Jain is clean after an
internal investigation into the role of the bank into the
manipulation of global interest rates, German newspaper Frankfurter
Allgemeine Sonntagszeitung reported.
Citing supervisory board sources, the paper reported that the
internal probe had cleared Jain of involvement in the Libor scandal
after scrutinizing bank documents and interviewing hundreds of
Deutsche Bank employees.
A Deutsche Bank spokesman declined to comment.
Deutsche Bank, embroiled in a number of scandals, is working through
a long list of investigations and fines that have resulted from the
global financial crisis.
It has been named in cases related to the sub-prime crisis, credit
default swaps, mortgages, tax evasion, manipulation of Libor
interest rates and the decade-old Leo Kirch lawsuit.
Co-Chief Executives Juergen Fitschen and Anshu Jain are pursuing an
ambitious project to transform the bank's corporate culture and
rebuild its reputation.
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Last week Deutsche Bank reported a surprise fourth-quarter loss as
heavy costs for litigation and restructuring hit its performance.
(Reporting by Harro ten Wolde; editing
by Rosalind Russell)
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