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Cyclone on Deutsche Bank: the co-CEO and 4 other former managers are accused

Two former CEOs of the bank, Rolf Breuer and Josef Ackermann, former chairman Clemens Boersig and former board member Tessen von Heydebreck are accused together with co-CEO Juergen Fitschen of the legal battle conducted by the institute against the heirs of the former tycoon Leo Kirch.

Cyclone on Deutsche Bank: the co-CEO and 4 other former managers are accused

The co-CEO of Deutsche Bank, Juergen Fitschen, ended up in the crosshairs of German justice together with two other former managing directors of the Bank, Rolf Breuer e Josef Ackermannto the former president Clemens Boersig and to the former board member Tessen von Heydebreck.

The accusation is of perjury in the context of the legal battle conducted by the institute for twelve years against the heirs of the former media magnate Leo Kirch and concluded last February. 

In particular, Fitschen is accused of not having rectified some false statements made by the former administrators and lawyers of the banking giant during the hearings. 

The Munich court said the accused will be given time to respond to the charges, then decide whether to continue the proceedings or dismiss them. The decision won't come before early next year. 

According to the public prosecution, if convicted Fitschen faces between six months and 10 years in prison. Deutsche Bank claims that "the accusations" against the co-CEO "will prove to be groundless". 

Fitschen has led the leading German lender since 2012 with Anshu Jain. 

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