A man is seen outside the US headquarters of Deutsche Bank on July 8, 2019 in New York City. - From Asia to the United States, disconsolate staff at Deutsche Bank dealt Monday with news of massive layoffs with some already heading to the exits to drown their sorrows.The German giant's share price fell to a low of 6.66 euros ($7.47) before closing down 5.4 percent at 6.79 euros, following Sunday's announcement of 18,000 job losses by 2022 as the company transitions out of high-risk investment banking. (Photo by Angela Weiss / AFP)        (Photo credit should read ANGELA WEISS/AFP via Getty Images)
Trump's private bankers resign from Deutsche Bank
02:44 - Source: CNN
CNN  — 

Deutsche Bank entered into a deferred prosecution agreement with federal prosecutors who allege the bank violated anti-bribery laws while doing business abroad. The bank has agreed to pay more than $100 million in penalties, prosecutors announced Friday.

The German bank entered into the agreement with Brooklyn federal prosecutors remotely. The criminal complaint charges the bank with two counts including conspiracy to violate the Foreign Corrupt Practices Act and wire fraud conspiracy affecting a financial institution.

The agreement does not include mention of any connection to an investigation by Manhattan federal prosecutors into whether President Donald Trump misled or defrauded Deutsche Bank by inflating the value of some of his assets. But it does say that Deutsche Bank would “cooperate fully” with other investigations.

The Bank has loaned the Trump Organization more than $300 million, and CNN reported that the private bankers who worked with Trump and son-in-law Jared Kushner resigned weeks before Trump’s last day in office.

The bank did agree to “cooperate fully” with federal prosecutors in any matters currently under investigation.

In a statement to CNN, Deutsche Bank (DB) spokesman Dan Hunter, said while the bank cannot comment on the specifics of the resolutions, it takes responsibility for these past actions that took place between 2008 and 2017.

“Our thorough internal investigations, and full cooperation with the DOJ and SEC investigations of these matters, reflect our transparency and determination to put these matters firmly in the past,” Hunter said in the statement.

“As recognized in the resolutions, we have taken significant remedial actions in response to these issues. As a broader matter, in the years since these issues occurred, we have invested more than EUR 1 billion in data, technology, and controls, as well as improved our training and operational processes. We have increased our anti-financial crime team to more than 1,600 people globally, and we’ll continue to invest significantly in technology this year and in the future, particularly as it relates to anti-financial crime compliance.”