Violation Tracker Individual Record

Company: 
Deutsche Bank AG
Current Parent Company: 
Deutsche Bank
Penalty: 
$775,000,000
Primary Offense: 
interest rate 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.

Year: 
2015
Agency: 
Justice Department Criminal Division
Civil or Criminal Case: 
criminal: deferred prosecution agreement
Prosecution Agreement: 
plea & deferred prosecution agreement
HQ Country of Parent: 
Germany
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.