Now that America is undergoing a blitzkrieg of reforms that are
sending the Khazarians in panic, will the Eurozone be the Global Reformists’
next focus?
Recent actions of the International Monetary Fund, the US and
British regulators against the largest German bank, i.e. Deutsche Bank, and the
integrity of the euro and the Eurozone itself, all suggest that the planned
shutdown of the Khazarian EU project continues undeterred.
Deutsche Bank fined for $10 billion sham Russian trades
By Karen Freifeld and Arno Schuetze | NEW YORK/FRANKFURT
NEW YORK/FRANKFURT Deutsche Bank (DBKGn.DE) has agreed to pay $630 million
in fines for organizing $10 billion in sham trades that could have been used to
launder money out of Russia, the latest in a string of penalties that have
hammered the German lender’s finances.
In two detailed reports, U.S. and British regulators criticized
the bank for not knowing the customers involved or the source of money for the
trades, which helped buoy revenue during a slowdown following the global
financial crash.
The scheme involved so-called mirror trades carried out between
2011 to 2015 – for instance, buying Russian stocks in rubles for a client and
selling the identical value of a security for U.S. dollars for a related
customer.
The New York Department of Financial Services outlined a web of
trades “converting roubles into dollars through security trades that had no
economic purpose” and stretched from Moscow, London and New York to Cyprus and
the British Virgin Islands.
“I have a billion ruble today … will you be able to find a
security for this size,” the watchdog cited one party to a deal as telling a
Deutsche Bank trader in Moscow.
The regulator said the bank had missed numerous opportunities to
prevent the scheme. “These flaws allowed a corrupt group of bank traders and
offshore entities to improperly and covertly transfer more than $10 billion out
of Russia.”
It said the scheme – in which the parties involved often lost
money on the trades due to fees and commissions – could have been used for
money laundering.
While U.S. and British regulators – which fined Deutsche $425
million and $204 million respectively – penalized the bank for not having
adequate controls, they did not say top management was aware of the improper
nature of the trades.
The fines – which comes weeks after a $7.2 billion U.S. penalty
for the sale of toxic mortgage debt – marks another step in Deutsche Chief
Executive John Cryan’s attempts to draw a line under the bank’s misdeeds in the
wake of the financial crisis, as it sought to carve and then keep a foothold on
Wall Street.
That has left a costly legacy of billions of euros of fines.
Germany’s biggest bank is expected by analysts to report a loss later this week
for 2016 of more than 650 million euros.
Aside from targeting the bankers, the IMF itself blames the
politicians within the Eurozone…
Damning IMF Report Reveals Dysfunction Within Eurozone
Sputnik 19:03 31.01.2017
