Report: Deutsche Bank Execs Knew About $10 Billion Trading Scandal in 2015

Current executives at Deutsche Bank, which did business with Jeffrey Epstein and has long lent money to President Trump, were aware of systemic failures that allowed the bank to play a starring role in 2015’s $10 billion mirror trading scandal, BuzzFeed News reports. Christian Sewing, the bank’s current CEO, was in charge of the audit division at a time when auditors saw nothing major amiss with the bank’s Moscow trading desk. Deutsche Bank later blamed its Moscow office for the bank’s role in an international money laundering scheme that washed billions of dollars generated from organized crime, drug trafficking, and terrorism. However, an internal report by Deloitte obtained by BuzzFeed found the audit division had “severe shortcomings” indicating systemic failures and specific lack of attention to its Moscow office’s anti-money laundering policies. Deutsche Bank also received warnings from U.K. and U.S. financial regulators, including one comment from 2016 saying that “leadership on financial crime had been lacking for a considerable period of time.”