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:
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.
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 Parent:
Germany
Ownership Structure of Parent:
publicly traded
Major Industry of Parent:
financial services
Specific Industry of Parent:
banking & securities
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.
