- Maksutova was fired in connection with Russia laundering probe
- Court scheduled to continue hearing of Wiswell dismissal
A former Deutsche Bank AG employee in Moscow lost a lawsuit over what she claimed was a wrongful dismissal linked to an investigation into possible money laundering at the German lender’s Russian unit.
A Moscow labor court threw out the claims by Dina Maksutova, who worked in Russian equity sales, said Marietta Nikolaeva, a spokeswoman for Deutsche Bank. The court is scheduled to continue hearing a wrongful dismissal suit brought by Tim Wiswell, former head of equities at the bank, on Thursday.
The Russian central bank fined Deutsche Bank about $4,200 for compliance failures in a probe into alleged trading violations at the Moscow office, saying the lender had fallen victim to an illegal scheme, according to people familiar with the matter. Germany’s largest lender still faces investigations in the U.S. and U.K. for as much as $10 billion in suspicious transactions it has identified as not being properly vetted when clients moved money offshore.
Wiswell and Maksutova were among bankers that were put on leave and subsequently fired during the probe. Marina Zakharova, a lawyer for Maksutova, declined to comment by phone.
Deutsche Bank shares rose 1.9 percent to 21.96 euros at 11:03 a.m. in Frankfurt. They have decreased about 12 percent this year.
U.S. and U.K. officials are looking at more than three years of so-called mirror trades in which clients bought Russian blue-chip stocks for rubles in Moscow and simultaneously sold them in London for dollars, people familiar with the investigations have said. Deutsche Bank said in October that its own investigation found violations of its internal policies and deficiencies in controls related to the transactions.
Deutsche Bank has increased its litigation reserves by 1.2 billion euros ($1.3 billion), mainly to cover possible liabilities related to the investigations.