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Michael_Novakhov
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from “william broeksmit deutsche bank” – Google News.

Story image for william broeksmit deutsche bank from The New York Times

Deutsche Bank Faces Criminal Investigation for Potential Money …

The New York Times5 hours ago
Agents told the son, Val Broeksmit, that the Deutsche Bank … Until his death, William Broeksmit sat on the oversight board of a large Deutsche …
Story image for william broeksmit deutsche bank from New York Times

Deutsche Bank Flew and Fell. Some Paid a High Price.

New York TimesDec 30, 2016
In 2005, Deutsche Bank, then a powerhouse in the selling of risky … William S. Broeksmit, a derivatives trader with a risk manager’s nose for …
Story image for william broeksmit deutsche bank from dailytelegraph.com.au

Questions over spate of ‘suicides’ among Deutsche Bank executives

dailytelegraph.com.auJun 13, 2016
In January 2014, the body of William Broeksmit, 58, a high-ranking Deutsche Bank executive, was found hanging in his London flat from a dog …
Story image for william broeksmit deutsche bank from New York Post

The Banker Suicides: “He hung himself with the dog’s leash”

New York PostJun 12, 2016
… related to The Deutsche Bank Trust Company of America, the board he served on at the time of his death. William’s stepson, Val Broeksmit, …
Story image for william broeksmit deutsche bank from Financial Times

Retired Deutsche Bank executive William Broeksmit ‘took own life’

Financial TimesMar 25, 2014
William Broeksmit, 58, who worked at Deutsche Bank’s investment bank, was found hanged at his home in London’s Chelsea by his wife in …
Story image for william broeksmit deutsche bank from Reuters UK

Reuters UK

William Broeksmit, Ex-Deutsche Bank Risk Manager, Dies at 58

BloombergJan 28, 2014
William Broeksmit, a recently retired executive at Deutsche Bank AG who worked at Merrill Lynch in the 1990s with Anshu Jain, now Deutsche …
Story image for william broeksmit deutsche bank from Bloomberg

How Deutsche Bank Made a $462 Million Loss Disappear

BloombergJan 18, 2017
That afternoon, at the London outpost of Deutsche Bank, the stolid-seeming, … William Broeksmit, a managing director who specialized in risk …
Story image for william broeksmit deutsche bank from Reuters

Exclusive: Former risk chief warned Deutsche Bank on stress test …

ReutersMar 12, 2015
They were written by William Broeksmit in December 2013 and January 2014 as the bank was preparing its Fed-mandated, internally run stress …
Story image for william broeksmit deutsche bank from WhoWhatWhy / RealNewsProject (blog)

Deutsche Bank: A Global Bank for Oligarchs — American and Russian …

WhoWhatWhy / RealNewsProject (blog)Jan 8, 2018
Indeed, Deutsche Bank is a common thread in numerous probes of …. Deutsche Bank risk management executive William Broeksmit expressed …
Story image for william broeksmit deutsche bank from Het Financieele Dagblad

Deutsche Bank is schroot, een kerncentrale na een ongeluk’

Het Financieele DagbladMay 22, 2019
Het vertrouwen in Deutsche Bank op de beurs is weg. …. ‘Er zijn oneindig veel drama’s, zoals de zelfmoord van risicomanager Bill Broeksmit.
Story image for william broeksmit deutsche bank from Reuters UK

Deutsche Bank lawyer found dead by suicide in New York

Reuters UKOct 25, 2014
BERLIN (Reuters) – A senior Deutsche Bank regulatory lawyer has been … Earlier this year, former Deutsche Bank manager William Broeksmit, …
Deutsche Bank Lawyer Found Dead in New York in Suicide
Highly CitedWall Street JournalOct 26, 2014

Story image for william broeksmit deutsche bank from NPR

‘Auntie Maxine’ Waters Gets Ready To Take On The Banks As House …

NPRNov 15, 2018
She can make bank executives and some of the regulators … Deutsche Bank was the only major bank willing to lend money to Trump after his …
Story image for william broeksmit deutsche bank from Fortune (blog)

Banks under pressure over rising stress

Fortune (blog)Apr 2, 2014
Last week, a coroner concluded that retired Deutsche Bank (DB) executive William Broeksmit took his own life. His psychologist told the inquest …
Story image for william broeksmit deutsche bank from DIE WELT

Deutsche Bank sieht sich wieder auf der Gewinnerspur

DIE WELTMay 13, 2017
Wenn man sich die Menge und den Umfang der Rechtsverstöße der Deutschen Bank ansieht (Finanzkrise, Subprime-Kredite, …
Story image for william broeksmit deutsche bank from New York Times

Changes at Top of Deutsche Bank Start to Come Into Focus

New York TimesMar 7, 2012
The investment bank changes come as Deutsche takes steps to move from … two bankers with close ties to Mr. Jain — William Broeksmit and Henry Ritchotte. Mr. Broeksmit will become chief risk officer for the bank, focusing …
Story image for william broeksmit deutsche bank from Housing Wire

More details emerge about three bankers who died in six days

Housing WireFeb 7, 2014
26, William Broeksmit, 58, a former senior manager for Deutsche Bank, was found hanging in his home, also an apparent suicide. On Jan.
Story image for william broeksmit deutsche bank from Daily Mail (blog)

Two top American bankers commit suicide in London as one jumps …

Daily Mail (blog)Jan 28, 2014
‘We are deeply saddened by Bill’s death. … Chiefs at Deutsche Bank had planned to promote Broeksmit to its management board in 2012, but …
JP Morgan employee killed in fall from bank’s HQ
In-DepthTelegraph.co.ukJan 28, 2014

Story image for william broeksmit deutsche bank from Housing Wire

Prominent banker, hedge fund entrepreneur found dead

Housing WireOct 27, 2014
As a reminder, the other Deutsche Bank-er who was found dead earlier in the year, William Broeksmit, was involved in the bank’s risk function …
Story image for william broeksmit deutsche bank from RT

Young banker’s suicide becomes twelfth in financial world this year

RTMar 19, 2014
The recent string of suicides began in January, when Deutsche Bank AG’s William Broeksmit, 58, was found hanged in his home on January 26 …
Banker, 28, kills himself in ELEVENTH finance suicide this year
Highly CitedDaily Mail (blog)Mar 18, 2014

Story image for william broeksmit deutsche bank from Financial Post

Former ABN Amro banker Jan Peter Schmittmann, his wife and …

Financial PostApr 7, 2014
A coroner in London last month started an inquest into the apparent suicide of William Broeksmit, 58, a retired Deutsche Bank AG risk executive …

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Deutsche Bank Faces Criminal Investigation for Potential Money-Laundering Lapses

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Michael_Novakhov
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Federal authorities are investigating whether Deutsche Bank complied with laws meant to stop money laundering and other crimes, the latest government examination of potential misconduct at one of the world’s largest and most troubled banks, according to seven people familiar with the inquiry.

The investigation includes a review of Deutsche Bank’s handling of so-called suspicious activity reports that its employees prepared about possibly problematic transactions, including some linked to President Trump’s son-in-law and senior adviser, Jared Kushner, according to people close to the bank and others familiar with the matter.

The criminal investigation into Deutsche Bank is one element of several separate but overlapping government examinations into how illicit funds flow through the American financial system, said five of the people, who were not authorized to speak publicly about the inquiries. Several other banks are also being investigated.

The F.B.I. recently contacted the lawyer for a Deutsche Bank whistle-blower, Tammy McFadden, who publicly criticized the company’s anti-money-laundering systems, according to the lawyer, Brian McCafferty.

Ms. McFadden, a former anti-money-laundering compliance officer at the bank, told The New York Times last month that she had flagged transactions involving Mr. Kushner’s family company in 2016, but that bank managers decided not to file the suspicious activity report she prepared. Some of her colleagues had similar experiences in 2017 involving transactions in the accounts of Mr. Trump’s legal entities, although it was not clear whether the F.B.I. was examining the bank’s handling of those transactions.

The same federal agent who contacted Ms. McFadden’s lawyer also participated in interviews of the son of a deceased Deutsche Bank executive, William S. Broeksmit. Agents told the son, Val Broeksmit, that the Deutsche Bank investigation began with an inquiry into the bank’s work for Russian money launderers and had expanded to cover a broader array of potential misconduct at the bank and at other financial institutions. One element is the banks’ possible roles in a vast money-laundering scandal at the Danish lender Danske Bank, according to people briefed on the investigation.

The broader scope of the investigations and many details of precisely what is under scrutiny are unclear, and it is not known whether the inquiries will result in criminal charges. In addition to the F.B.I., the Justice Department’s Money Laundering and Asset Recovery Section in Washington and the United States attorney’s offices in Manhattan and Brooklyn are conducting the investigations. Representatives for the agencies declined to comment.

Deutsche Bank has said that it is cooperating with government investigations and that it has been taking steps to improve its anti-money-laundering systems.

Even so, the governmental scrutiny — from regulators, members of Congress and now the Justice Department and F.B.I. — has been a drag on the bank’s stock price, which is hovering near historic lows because of investors’ doubts about its future.

The congressional investigations are focused on Deutsche Bank’s close relationship with Mr. Trump and his family. Over the past two decades, it was the only mainstream financial institution consistently willing to do business with Mr. Trump, who had a history of defaulting on loans. The bank lent him a total of more than $2 billion, about $350 million of which was outstanding when he was sworn in as president.

Two House committees have subpoenaed Deutsche Bank for records related to Mr. Trump and his family, including records connected to the bank’s handling of potentially suspicious transactions. The president has sued to block Deutsche Bank and Capital One, where he also holds money, from complying with the subpoenas. A federal judge rejected Mr. Trump’s request for an injunction, and the president has appealed that ruling.

The Justice Department has been investigating Deutsche Bank since 2015, when agents were examining its role in laundering billions of dollars for wealthy Russians through a scheme known as mirror trading. Customers would use the bank to convert Russian rubles into dollars and euros via a complicated series of stock trades in Europe and the United States.

In early 2017, federal and state regulators in the United States and British authorities imposed hundreds of millions of dollars in civil penalties on Deutsche Bank for that misconduct, but prosecutors never brought a criminal case against the bank. That led some senior Deutsche Bank executives to believe they were in the clear, according to people familiar with their thinking.

By last fall, though, federal agents were investigating a wider range of anti-money-laundering lapses and other possible misconduct at the bank.

F.B.I. agents met this year with Val Broeksmit, whose father was a senior Deutsche Bank executive who committed suicide in January 2014. Mr. Broeksmit said he had provided the agents with internal bank documents and other materials that he had retrieved from his father’s personal email accounts.

Until his death, William Broeksmit sat on the oversight board of a large Deutsche Bank subsidiary in the United States, Deutsche Bank Trust Company Americas, which regulators have criticized for having weak anti-money-laundering systems.

Many of the bank’s anti-money-laundering operations are based in Jacksonville, Fla., where Ms. McFadden was one of hundreds of employees vetting transactions that computer systems flagged as potentially suspicious.

Ms. McFadden told The Times that she had warned in summer 2016 about transactions by the Kushner Companies involving money being sent to Russian individuals. Other Deutsche Bank employees prepared reports in 2017 flagging transactions involving legal entities associated with Mr. Trump, including his now-defunct charitable foundation, according to current and former bank employees. In both instances, the suspicious activity reports were never filed with the Treasury Department.

Deutsche Bank officials have said that the reports were handled appropriately and that it is not uncommon for managers to overrule employees and opt not to file suspicious activity reports with the government.

There is no indication that Kushner Companies is under investigation. The company said any allegations regarding its relationship with Deutsche Bank that involved money laundering were false. A Trump Organization spokeswoman said that she had no knowledge of any Deutsche Bank transactions being flagged.

The federal Bank Secrecy Act requires financial institutions to alert the government if they suspect that transactions involve criminal proceeds or are being used for illegal purposes. Banks can face civil or criminal penalties for failing to file reports about transactions that are found to be illegal. In recent years, banks like JPMorgan Chase and HSBC have incurred such penalties.

Banks argue that when they err on the side of reporting potential problems, they end up flooding the government with false leads.

Former Deutsche Bank employees, speaking on the condition of anonymity, told The Times that the company had pushed them to rush their reviews of transactions and that managers sometimes created obstacles that discouraged them from filing suspicious activity reports.

Deutsche Bank has scrambled to toughen its anti-money-laundering procedures.

To address complaints about inadequate staffing, it brought in contractors to supplement its Jacksonville work force, although some employees said that the contractors were inexperienced and lacked the appropriate training.

Deutsche Bank also recently sent letters to hundreds of companies, warning that they could be cut off from the bank’s services if they did not swiftly provide up-to-date information about the sources of their money and the names of their business partners, according to bank employees who saw the letters. Deutsche Bank officials said the letters, first reported by the Financial Times, were part of their efforts to comply with “know your customer” rules, a crucial component of any bank’s anti-money-laundering efforts.

In Jacksonville, Deutsche Bank’s anti-financial-crime staff works in a white, three-story building surrounded by palm trees. The F.B.I. has a field office just down the road, clearly visible from the bank’s campus.

Bank employees recently have taken to joking that when the F.B.I. raids their offices, they will be able to see the agents coming.


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FOX News: A Missouri man’s secret search for his wife’s lost wedding ring

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Drew Huskey and his wife Qian “Emily” Yang of Missouri were on vacation in Canada when her wedding ring flew off and landed in about two feet of snow. She thought she would never see the ring again, but her husband was secretly on a mission to find it and bring it back to his wife.

FOX News


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