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Violation Tracker Individual Record

Company: Deutsche Bank AG
Current Parent Company: Deutsche Bank
Penalty: $775,000,000
Year: 2015
Date: April 23, 2015
Offense Group: competition-related offenses
Primary Offense: price-fixing or anti-competitive practices
Secondary Offense: interest rate benchmark manipulation
Mega-Scandal: Benchmark Manipulation
Violation Description: DB Group Services (UK) Limited, a wholly owned subsidiary of Deutsche Bank AG, agreed to plead guilty to wire fraud for its role in manipulating the London Interbank Offered Rate, a leading benchmark interest rate used in financial products and transactions around the world. In addition, Deutsche Bank entered into a deferred prosecution agreement to resolve wire fraud and antitrust charges in connection with its alleged role in both manipulating U.S. Dollar LIBOR and engaging in a price-fixing conspiracy to rig Yen LIBOR. Together, Deutsche Bank and its subsidiary were to pay $775 million in criminal penalties.
Level of Government: federal
Action Type: agency action
Agency: Justice Department Criminal Division
Civil or Criminal Case: criminal
Prosecution Agreement: plea & deferred prosecution agreement
HQ Country of Current Parent: Germany
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.