Munich court to allow trial of Deutsche Bank co-CEO Fitschen

Tuesday, 3 March 2015 00:21 - - {{hitsCtrl.values.hits}}

Reuters: A German court has decided to try Deutsche Bank Juergen Fitschen and four former executives at the bank in connection with the long-running Kirch bankruptcy case, a spokeswoman for the court said on Monday (2 March).

The court’s decision to proceed with trial after months of deliberation, while widely expected, deals a blow to Fitschen and Germany’s largest bank, which faces an array of legal problems, including investigations into possible manipulation of benchmark interest rates and foreign exchange markets. A spokesman for Deutsche Bank said it was the company’s policy not to comment on ongoing litigation. “The presumption of innocence applies to all former and current management board members,” he said. Munich prosecutors have been investigating whether Fitschen and former executives gave misleading evidence during a civil court case brought by the heirs of Leo Kirch, the deceased media magnate who had sued Deutsche Bank.