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Mueller-targeted foreign bank investigated by Federal Reserve for up to $230 billion in sketchy payments

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The Federal Reserve is investigating billions of dollars in suspicious transactions involving Deutsche Bank AG and Denmark’s Danske Bank.

Investigators are examining whether Deutsche Bank’s U.S. operations adequately monitored funds sent through an Estonian branch of Danske Bank A/S, which the Danish bank has admitted handled up to $230 billion in dirty money, reported Bloomberg.

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Two sources briefed on the probe confirmed the investigation, which Deutsche Bank denied in an emailed statement.

“(The bank) received several requests for information from regulators and law enforcement agencies around the world,” Deutsche Bank said. “It is not surprising at all that the investigating authorities and banks themselves have an interest in the Danske case and the lessons to be learned from it. Deutsche Bank continues to provide information to and cooperate with the investigating agencies.”

U.S. investigators want to determine whether Deutsche Bank met the required standard for detecting possible money laundering and alerting authorities to suspicious transactions.

A Danske Bank whistleblower revealed that much of the illicit flow of money passed through Deutsche Bank in the U.S., according to Bloomberg’s sources.

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The U.S. Department of Justice and investigators in other countries are probing allegations of money laundering Danske Bank’s business in Estonia.

Deutsche Bank’s chief executive officer, Christian Sewing, said he launched an internal investigation into the allegations but so far has not seen evidence of wrongdoing.

Special counsel Robert Mueller reportedly issued a subpoena last year to Deustche Bank, which has loaned President Donald Trump ’s business an estimated $300 million prior to his election.

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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