NEW YORK: Deutsche Bank has agreed to pay a fine of more than $100 million to avoid a criminal prosecution on charges it participated in a foreign bribery scheme.

Lawyers for the bank waived its right to face an indictment on conspiracy charges on Friday during a teleconference with a federal judge in New York City.

Federal prosecutors in Brooklyn didn’t reveal at the hearing which nations were involved. Previously, the bank has agreed to a Securities and Exchange Commission fine of $16m to resolve separate allegations of corrupt dealings in Russia and China.

Published in Dawn, January 9th, 2021