Deutsche Bank Woes Deepen in Monte Paschi Fraud Case
- German lender risks higher penalties if convicted in case
- Market manipulation trial in Milan under way since December
The Banca Monte dei Paschi di Siena SpA's logo sits on a window at one of the company's bank branches in Rome, Italy, on Wednesday, Jan. 27, 2016. Italy's banking woes are set to plague Prime Minister Matteo Renzi for months to come after a long-sought deal with the European Union on bad debts disappointed investors.
Photographer: Alessia Pierdomenico/BloombergDeutsche Bank AG, on trial in Milan for allegedly helping Banca Monte dei Paschi di Siena SpA conceal losses, must face accusations that it was running an international criminal organization at the time.
Prosecutors used internal Deutsche Bank documents and emails to persuade a three-judge panel to consider whether there were additional, aggravating circumstances to the charges the German lender already faces related to derivatives transactions. The material included a London trader’s "well done!" message to a banker who is now on trial, evidence seen by Bloomberg shows.