The scandal over the laundering of Russian "dirty money" the largest German credit institution Deutsche Bank (DB) is gaining momentum. In May this year the German press, citing its own sources reported that the Moscow branch of the DB was involved in suspicious transactions in OTC financial markets of London and New York. Then it was a question of the amount of several hundred million dollars, and now - more than six billion. And this, according to financial market analysts, is not the limit - the order numbers could rise.
Banking "stiralka" worked from 2011 to April 2015 as follows: Employees DB branch in Moscow on behalf of Russian clients bought for rubles to bypass exchanges Russian as derivatives (derivative financial assets) and immediately sold them in the UK and the US, using the mechanism OTC deal (transactions with financial instruments, concluded by the parties directly). Thus, the "dirty money" from Russia were transformed into pure sterling and dollars.
The first transaction in the strange autumn of 2014, according to the German newspaper the Handelsblatt, drew the attention of the Central Bank of the Russian Federation and recOval German colleagues to inspect.
Only six months later Deutsche Bank under pressure leaked to the press information has been forced to admit that there is an internal investigation, Head of the Moscow branch of Tim Vizvel and two Russian-speaking employee Dinara Maksutova and George Bouznik suspended from work, informed by the relevant German financial authorities, the UK and the US, as well as the European Central Bank.
Restricting the official press release and recalling the mystery of the investigation, the bank at the time declined to give any details, strongly emphasizing that he is interested in the speedy identification of all the details of fraud and fully cooperate with the supervisory authorities. Given the fact that the DB activity in recent years, constantly accompanied by scandals, such a position is quite clear.
For example, the US Senate Committee recognized the German credit institution, along with the US mortgage agencies and Goldman Sachs Bank of the main culprits of the 2008 financial crisis. Pre-trial settlement agreement DB cost of 200 million dollarsares.
Later, the bank has already caught on in Europe, tax fraud, and was forced to pay about 800 million euros on penalties. In 2013, legal costs DB on various claims rose to 2.3 billion euros. Another major trouble occurred in April this year: because of the machinations with interest at a rate of Libor in English and American financial markets, the German bankers had to pay a fine of $ 2.5 billion.
However, the game of "Russian roulette" - so the German media dubbed scam Moscow employees Deutsche Bank - can scale to surpass all the previous scandals.
Already ahead resigned, both co-chairs of the Board - Anshu Jain and Juergen Fitschen, which is associated with high hopes for a radical improvement in the image of a financial institution and its conclusion of a protracted crisis.
Laundering Russian "dirty money" through a German bank interested in the US Department of Justice, in addition to giving it financial and even political significance - violation of the anti-Russian sanctions. This, writes Spiegel magazine, greatly exacerbatedthe position of the DB - the penalties in this case could reach a record four billion dollars.
It is too early to talk about any results of the - the investigation has just begun. And what surprises it will bring is anyone's guess. The Russian banking market Deutsche Bank enjoys considerable authority and demand. Just look at the number of clients in order to understand the level of those in Russia who sought the services of the German bankers. In the period of 2011-2014. through the Moscow branch of the DB repeatedly conducted large transactions Sberbank, Gazprombank, "Renova", the Russian Federal Property Management Agency, the group of companies "Globaltrans" (Sberbank and Gazprombank are included in the list of US and EU sanctions).