Wednesday, October 31, 2012

Did Germany's Banking Giant Deutsche Bank Violate Iran Sanctions?

Deutsche Bank May Have Violated Iran Sanctions -- Jerusalem Post

German financial giant reportedly confirms US investigation against it over financial transactions in US dollars with Tehran.

BERLIN – Flagship German financial institution Deutsche Bank appears to be embroiled in violations of Iran sanctions, the German television channel n-tv reported Tuesday on its website.

According to the report, Deutsche Bank confirmed in its quarterly business report on Tuesday that US investigators were probing the banking giant for violating the trade embargo on Iran.

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My Comment: What are they thinking? Is doing banking business with Iran more important than the U.S.? My hope is that if they are found guilty ..... the fines run into the billions and those responsible face jail time.

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