PracticeAccounting FirmsDeutsche Bank faces accounting fraud probe

Deutsche Bank faces accounting fraud probe

Prosecutors in Germany are to investigate Deutsche Bank for alleged accounting fraud, AFX news has reported.

Link: Kingston Smith takes star role in Mayflower probe

At issue is the bank’s failure to put to one side funds that may become payable in compensation to Leo Kirch, a media tycoon.

The potential liability arose after comments by Rolf Breuer, Deutsche Bank supervisory board chariman, on the credit-worthiness of Kirch’s KirchGruppe business.

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