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Deutsche Bank's headquarters in Frankfurt were raided by police last week (Photo: orkomedix)

Deutsche Bank convicted in Italy in widening scandal

An Italian judge has convicted Deutsche Bank of fraud, as the bank struggles to save its reputation amid widening probes over tax evasion and rate-fixing after the departure of its former CEO Josef Ackermann.

Deutsche Bank was convicted together with US giant JP Morgan Chase, Switzerland's UBS and a German-Irish bank, Depfa, for their role in overseeing fraud by their bankers in the sale of interest rate bets to the city of Milan. About €90 million are to be seized from the four banks, ...

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Deutsche Bank's headquarters in Frankfurt were raided by police last week (Photo: orkomedix)

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