One more plea deal for Deutsche Bank. The German banking giant agreed to pay $95 million to US authorities who accused her of tax fraud. Not only that: US justice "he made the Bank acknowledge that he had acted to avoid taxesPreet Bharara, one of the New York state attorneys, said in a statement.
The United States sued Deutsche Bank in 2014, but the disputed facts date back to 2000, when the German Bank bought an American holding company, Charter, which held the shares of the pharmaceutical company in its portfolio Bristol-Myers Squibb. Charter had made a large capital gain on those securities, but Deutsche Bank would have had to pay a multimillion-dollar tax bill to sell them.
Therefore the Bank created a ghost company to which Charter was sold before being liquidated. In turn, the shell company sold the Bristol-Myers Squibb shares to Deutsche Bank, only to then declare to the US Revenue that it did not have enough funds to pay the taxes on the transaction.
The agreement announced today is a new stage in the resolution of the disputes between the US judiciary and Deutsche Bank, which evidently – like many other financial groups – is trying to resolve all possible judicial issues before the administration of the new American president, Donald Trump, takes office.
Only last month did the German Bank agree to pay a $7,2 billion fine to close the story of subprime mortgages.
