Tuesday, December 21, 2010

Deutsche Bank to pay over $550M in fraud probe

http://finance.yahoo.com/news/Deutsche-Bank-to-pay-over-apf-3257528524.html?x=0&sec=topStories&pos=3&asset=&ccode=

I'd like to see you get this same deal.
Admit your guilty of fraud, dime to a dollars says your ass
would be thrown under the jail, not let off.
This is not justice America.
It's a pay off.


Deutsche Bank admitted criminal wrongdoing and agreed to pay more than $550 million in connection with its participation in tax shelters that enabled the rich to temporarily avoid paying hundreds of millions of dollars in U.S. taxes, authorities announced Tuesday.

Federal prosecutors and the Justice Department's tax division announced the deal, saying a nonprosecution agreement requires the bank to continue cooperating and to submit to the appointment of an independent expert who will review its compliance measures and ensure it does not help people dodge taxes in the future.

Authorities said the $553,633,153 payment by the bank will include that amount of taxes and interest that the Internal Revenue Service was unable to collect from taxpayers from 1996 to 2002 because of the misconduct. It also includes a civil penalty of more than $149 million.

In a statement, Deutsche Bank said it was pleased that the investigation had been resolved.