Deutsche Bank Accused of Bribery in London Lawsuit
- Vestia alleges bank hosted executives at club with vodka, Dom
- Deutsche Bank says no one at bank knew about the bribery
This article is for subscribers only.
Stichting Vestia, a Dutch affordable-housing provider that nearly collapsed as a result of derivatives losses, is suing Deutsche Bank AG, saying the bank is responsible for bribery.
The bank paid 3.5 million euros ($3.9 million) in commissions to a Dutch company, First in Finance Alternatives, Vestia alleges. About 1.75 million euros of that went to Vestia’s treasury and control manager Marcel de Vries, who single-handedly conducted Vestia’s derivatives trading, the housing group said.