DOJ Launches Probe Of Individuals Who Worked In Deutsche Bank’s Mortgage Unit

Deutsche Bank employees who were engaged in the actual trades that ended up costing the bank a $7.2 billion settlement at the end of 2016, and who were hoping to quietly get away without criminal or civil charges, are set for disappointment because as IFR reports the DOJ is probing for potential fraud by individuals who worked in Deutsche Bank’s mortgage unit in the run-up to the financial crisis.
According to IFR’s sources, “the investigation of former Deutsche staffers is a push to hold individuals accountable for their role in the housing crisis.” The probe follows Deutsche’s multi-billion settlement in December with the DOJ over toxic residential mortgage securities sold between 2006 and 2007. Observers were surprised when no individuals who worked at Deutsche were named in the settlement, leaving shareholders footing the bill.

This post was published at Zero Hedge on Feb 8, 2017.