US fined Deutsche Bank $ 16 million for employing children of Russian officials

Deutsche Bank agreed to pay more than $ 16 million in fines due to allegations that for its own benefit he hired relatives of foreign officials, in particular Russian ones. This is stated in a press release by the US Securities and Exchange Commission (SEC).

Фото: Depositphotos

According to the regulator, the violations that took place in Russia occurred between 2009 and 2012 and were undertaken in order to get business or other benefits, write Ведомости. The hired Russian employees were sometimes unskilled, the SEC emphasizes. In some cases, unskilled Russians were also hired in the London office of the bank.

The regulator cites as an example an unnamed deputy minister in the Russian government. In 2009, he asked the head of the Deutsche Bank office in Russia to hire his daughter in an office in Moscow, London or New York.

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As the SEC emphasizes, the head of the Russian office enthusiastically supported this idea in a conversation with London colleagues: “We must do it! We must take her to London, because keeping her in Moscow is NOT politically correct ”(the style of writing this phrase, which leads the SEC, has been preserved). After that, the daughter of the official was temporarily taken to the Moscow office, then to transfer her to a permanent job in London.

The same thing happened with the son of an unnamed top manager of a Russian state-owned company, SEC says: he was temporarily admitted to the Moscow office, and then transferred to London. He was dismissed two months later, in particular due to the fact that he did not come to work, the regulator reports.

According to the SEC, Deutsche Bank has undertaken the same practices with regard to Chinese citizens. Thus, the credit institution violated the laws of the United States on corruption and illegally enriched itself in the amount of $ 10,7 million, concluded the SEC.

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The bank did not deny, but did not recognize the conclusions made by the SEC, the regulator notes.

“Deutsche Bank has provided significant assistance to the SEC in the investigation and has taken numerous measures to rectify the situation and improve the practice of hiring employees,” a representative of the credit organization told Reuters.

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