Deutsche Bank to pay $554 million in US DoJ/IRS extortion racket

posted by
December 22, 2010
Posted in News

"Deutsche Bank AG, Germany’s largest bank, admitted [sic] criminal wrongdoing and agreed to pay $553.6 million to avoid prosecution in the U.S. over fraudulent [sic] tax shelters that generated $29 billion in 'bogus' tax losses [sic]. The U.S. Justice Department, under an agreement yesterday, won’t prosecute the Frankfurt-based bank for fraud [sic] or tax evasion for enabling wealthy U.S. citizens to avoid $5.9 billion in taxes, after the bank admitted criminal wrongdoing [sic]." [editor's note: This post makes me sic - TLK] (12/21/10)  

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