Bundesbank Said to Investigate Deutsche Bank Over Losses
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Germany’s Bundesbank is looking into allegations by former Deutsche Bank AG employees that the lender hid losses during the financial crisis, a person with knowledge of the matter said.
The central bank’s investigation isn’t at an advanced stage as officials examine the validity of the claims, said the person, who requested anonymity because the proceedings are confidential. German investigators are planning to fly to New York next week to conduct interviews with people including former bankers, the Financial Times reported yesterday. Michele Allison, a spokeswoman for Frankfurt-based Deutsche Bank, said the allegations aren’t true.