Deutsche Bank to pay $38 million in U.S. silver price-fixing case

[dealmaker]

A statue is pictured next to the logo of Germany's Deutsche Bank in Frankfurt, Germany September 30, 2016.REUTERS/Kai Pfaffenbach/File Photo

ByNate Raymond|NEW YORK
Deutsche Bank AG (DBKGn.DE) has agreed to pay $38 million to settle U.S. litigation over allegations it illegally conspired with other banks to fix silver prices at the expense of investors, according to court papers filed on Monday.

The settlement, disclosed in papers filed in Manhattan federal court, came in one of many recent lawsuits in which investors have accused banks of conspiring to rig rates and prices in financial and commodities markets.

http://www.reuters.com/article/us-deutsche-bank-settlement-silver-idUSKBN12H2HB

 

[achilles28]

Nobody arrested. Nobody goes to jail. Fine much smaller then illicit profits = Wallstreet criminality continues.....

It's designed this way.

 

[ajcrshr]

Looks like a slap on the wrist ie cost of doing business..

 

[lovethetrade]

The court probably took into consideration the damage already done to the DB brand, their stock price and outstanding settlements.

 

[achilles28]

oh ya, the poor bankers.

 

[lovethetrade]

Agree though, why aren't more of these bankers going to jail for blatant fraud. Maybe they couldn't pin it on any individual/s

 

[achilles28]

Agree though, why aren't more of these bankers going to jail for blatant fraud. Maybe they couldn't pin it on any individual/s

They're top of the food chain. Congress/EU parliament bought and paid for by Fortune 500. Same story around the world etc etc.

 

[Michael J. Fletcher]

Nah, 36$ million is nothing for them, but honestly, I am so sick of these crooked banks.